Gov. Gavin Newsom’s Revised California Budget Cuts Pensions, Raises Taxes, Spends Reserves, Extends Carryover For Film Tax Credits By 3 Years
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On Thursday, California Governor Gavin Newsom proposed a revised $203 billion state budget that attempted to account for $54 million gap created by increased expenditures and decreased revenue resulting from the impact of the coronavirus. The largest cut listed a budget summary the state released is the elimination of $2.4 billion in supplemental payments to [

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