Bend Over Californicators, it's HICA time!

Bloomberg reports: California Lawmakers Reach ‘Framework’ on Budget Deal.

California Governor Arnold Schwarzenegger and legislative leaders are nearing an agreement to close a record budget deficit with tax and fee increases on items including gasoline and retail sales.

Under consideration are proposals to raise the state’s sales tax rate to 8.25 percent from 7.25 percent; increase the vehicle license fee to 1.15 percent from 0.65 percent of the value of the automobile; a 12-cent per-gallon excise tax on gasoline and a 0.25 percent surcharge on income taxes, according to a lawmaker briefed by party leaders who asked not to be identified because the presentation was confidential.

Raising taxes during a depression. That should work out well!