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Employers Will See a 247% Rise in Federal UI Tax Rate Due to State Inaction on $21 Billion Debt
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As the state has allowed its Unemployment Insurance Fund to grow to unprecedented levels, employers now face the prospect that the federal employment tax rate—which comes on top of the state tax—will jump from its current 1.5% to 5.2%.
Scope 1, 2, and 3 Emissions of California’s Largest Source
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While the other major entity, the EU, requiring this type of reporting has announced a delay in their requirements along with a narrowing of those companies that will be required to comply, California continues to move ahead with the proposed regulations with only minor adjustments using the Air Board’s enforcement discretion authority.
Use of Public Transit Shows Only Marginal Change in 2024
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The recent release of the 2024 American Community Survey (ACS) 1-year estimates indicates use of public transit shows only marginal change. Two-thirds of workers relied on driving alone, a level essentially the same as 2023 (67.3% vs. 67.1%). Latino workers were reliant on using their own vehicles at a slightly higher rate—70.5% of workers in both 2023 and 2024.
California R&D Rose 8.3% in 2023
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By total contribution, business R&D dominated California activity in this field, comprising 93.7% of the overall $226.5 billion value added in 2023. This number, however, came prior to the state’s limitations enacted in 2024 on the R&D tax credit to raise revenues to cover its deficit spending.
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