Income taxes

California reported an $8.5 billion surplus in the budget passed last month.

Eric Papenfuse called for a hiring freeze and renewed scrutiny for all non-essential spending after the state budget did not give him the taxing flexibility he seeks.

Personal income tax and corporation tax receipts exceeded estimates by 16.9% and 62.1% respectively.

The governor wants to neutralize the effects of the new law to make it revenue-neutral for the state government.

The organization New Jersey Policy Perspective issued the report.

The subway crisis could change the political landscape, New York's mayor says.

Gov. Jerry Brown's administration disputed the prognosis about California's fiscal position.

The tax revenue could also be used to make up shortfalls in pension or bond payments.

California June revenues were 2.5% below projections outlined in last year’s budget.

Liquidity and pension woes still remain after Illinois enacted its first budget since 2015.