Update on Volkswagen Diesel Fraud Case

We filed an action in Butte County on May 17, 2018 with the intent of having a jury decide punitive damages. We would be the first party to bring the defeat device case to jury trial.  Peer reviewed studies proved thousands of people with lung diseases died from the fraud.  

 

California taxes: Economy is strong, but shortfall may be coming

Posted by Lacy Fletcher on Monday, June 6, 2016 Under: Economy
California's economy is on fire, but the state's finances are facing the cold reality of a revenue slowdown. And experts blame the state's unusual tax system for the problem.



"Right now, the surging tide of revenue is beginning to turn," Governor Jerry Brown said earlier this month at a press conference announcing a revised $122.2 billion state budget and potential deficits ahead due to expiring tax increases.


Brown is urging Sacramento lawmakers to refrain from any massive new spending programs, due to the possibility of an economic slowdown or recession.


State legislators have been holding budget committee hearings this week to discuss Brown's revised spending plan for California's next fiscal year, which begins July 1. There's a June 15 deadline for the legislature to adopt a new state budget — and it comes as the governor's May revision warns that the state's commitments in coming years "will exceed expected revenues" to the tune of more than $4 billion by fiscal 2019-20.


Also, the state this month trimmed its current fiscal-year revenue forecast by about $1.9 billion due to April's lagging tax receipts, including a shortfall in personal income taxes — that decline has come in part from stock market fluctuations, which have brought lower capital gains. Also, the state's cap-and-trade quarterly auction last week produced lower-than-expected revenues for the carbon emission permits up for sale.


Read more here.

In : Economy 


Tags: california economy  fiscal year  quarterly  tax 

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