IPOs Bring Tax Jackpot for California; Can Lawmakers Resist?

SACRAMENTO, Calif. — Uber and Airbnb are among at least six California-based companies valued at more than $1 billion expected to go public this year, creating a new class of millionaires and billionaires and a welcome quandary for the state’s budget writers. Not only tech owners, but I think the state of California.” Lawmakers can’t count on the money being there every year, and Assembly Budget Chairman Phil Ting said they are intent on learning from their past mistakes.

Source: www.nytimes.com