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California Budget Expects Boost from Marijuana Taxes, Surplus

The final California budget proposed by Governor Jerry Brown this week is expected to outline spending that will top last year’s $125 billion and be bolstered by new tax revenue from marijuana sales, which became legal for recreational use Jan. 1 and is projected to eventually reach $1 billion. The state’s estimated budget surplus of $7.5 billion is a huge turnaround from the $27 billion hole that was projected when Brown took office in January 2011.

California’s 2018-2019 budget proposal, with funding of climate change programs, health care services, education, and infrastructure, is expected to stand in stark contrast to the conservative policies of Republican President Donald Trump.

Lawmakers are seeking to retain $3.2 billion of the surplus in reserve, with the legislature’s majority Democrats pushing for universal pre-school for all children, and expansion of the state’s earned income tax credit for the poor. The spending plan will likely change between now and when the state’s revenues are recalculated in July.

Read more at Reuters

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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