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Economy

Janitors, nurses, teachers and labor organizers rally at the state Capitol in Sacramento to launch UnRig California on March 11, 2026. The initiative is a multiyear campaign aimed at reforming the state’s economy and tax code.
Miguel Gutierrez Jr.
/
CalMatters
California progressives want to hike taxes on corporations and billionaires to absorb federal funding cuts to Medi-Cal. But backfilling the loss would not address the state’s existing — and growing — structural budget deficit, budget experts say.
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