Newsom’s Revised Budget Has Tax Incentives to Lure Business From Targeted States
Governor Gavin Newsom this morning proposed a $300.7 billion revised state budget for 2022-23 and pegged the state’s operating surplus at $97.5 billion – a dramatic increase from the $45.7 billion projection in his January budget proposal. Newsom’s revised budget includes what a Governor’s Office press release described as $2.1 billion in new “incentive opportunities for businesses to relocate to California or grow jobs and their economic footprint here from states with anti-abortion and anti-LGBTQ+ laws.” “Califoria values make us…