Tax and spend California faces $25 billion shortfall in 2022

Published November 19, 2022 12:00am ET



<mediadc-video-embed data-state="{"cms.site.owner":{"_ref":"00000161-3486-d333-a9e9-76c6fbf30000","_type":"00000161-3461-dd66-ab67-fd6b93390000"},"cms.content.publishDate":1668808498801,"cms.content.publishUser":{"_ref":"00000177-ab1c-dfb6-afff-bf5d00c50003","_type":"00000161-3461-dd66-ab67-fd6b933a0007"},"cms.content.updateDate":1668808498801,"cms.content.updateUser":{"_ref":"00000177-ab1c-dfb6-afff-bf5d00c50003","_type":"00000161-3461-dd66-ab67-fd6b933a0007"},"rawHtml":"

var _bp = _bp||[]; _bp.push({ "div": "Brid_61445125", "obj": {"id":"27789","width":"16","height":"9","video":"1083199"} }); ","_id":"00000184-8cbc-d5ff-a7af-9cffc6d70000","_type":"2f5a8339-a89a-3738-9cd2-3ddf0c8da574"}”>Video EmbedAfter years of record-breaking surplus, California is now facing a $25 billion shortfall next fiscal year thanks to dwindling tax revenue, according to a state report.

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