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Direct Payments, Film Credit Funds in California Budget Deal

June 1, 2021, 11:22 PM

California legislative leaders accepted some but not all of Gov. Gavin Newsom’s proposals for tax incentives in a budget plan released Monday.

Members of the Senate and Assembly said they are still negotiating with the Democratic governor on some details of the package for the fiscal year that begins July 1, including a possible workaround for the $10,000 federal cap on deductions for state and local taxes.

But the two houses have reached agreement on the budget’s broad framework and some of the details. They will send most of the package to Newsom’s desk before their June 15 ...

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