Expenditures like infrastructure could see an increase due to California's projected 2022 budget surplus, with some money going to taxpayers as well.
California will have such a large budget surplus next year that money will likely be returned to taxpayers in order for the state to align with constitutional limits on state spending, the Associated Press reported.
From April through June of 2021, California's businesses reported a record high $216.8 billion in taxable sales. This is a 38.8 percent increase over the same time period last year, and a 17.4 percent increase over the months in 2019. California's tax collections have continued to soar despite the pandemic. Nick Maduros, director of the California Department of Tax and Fee Administration, said it is"a sign that business owners found creative ways to adapt during a difficult year."
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