California state Senate Democrats want a corporate tax rate increase and a permanent mechanism to defer corporate loss deductions during budget emergencies as part of their overall budget plan for the next fiscal year.
Senate Democratic leaders offered their plan on Wednesday to Gov. Gavin Newsom’s January budget proposal, signaling the next phase of budget negotiations in the state Capitol. The Democratic governor’s office was quick to say he opposes the tax increases along with new spending.
“It would be irresponsible to jeopardize the progress we’ve all made together over the last decade to protect the ...
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