Update: CA’s COVID-Resistant Tax Revenues

November 2020 General Fund tax revenues came in 30 percent above forecast. Through the first five months of the current fiscal year, revenues exceed forecast by $14 billion:

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Despite the pandemic, CA’s 2020 calendar year tax revenues are running ahead of 2019:

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That’s despite a 9.3 percent unemployment rate, more than double November 2019’s unemployment rate.

David Crane
President
Govern For California
Twitter: @DavidGCrane

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