California braces for new health-care and software taxes as budget vote advances

1 min read
Source: New York Post
California braces for new health-care and software taxes as budget vote advances
Photo: New York Post
TL;DR Summary

California lawmakers advanced tax measures within a $356 billion state budget, extending a health-care provider tax to private insurance plans (potentially about $2 billion annually and premium increases around $100 a year for individuals or $400 for a family of four) and adding a software sales tax projected to raise about $900 million annually. Republicans criticized the move as worsening costs, while Democrats argued it’s needed amid federal revenue losses, with Gov. Newsom expected to signinto law.

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