California's budget for the upcoming fiscal year is expected to be "roughly balanced," thanks to increased corporate and personal-income tax revenue. This boost in revenue is primarily due to the strong performance of the technology sector, particularly in artificial intelligence. The wealth generated by Silicon Valley's tech boom has been instrumental in strengthening the state's finances.

The recent changes to the tax code have also contributed to California's improved fiscal position, enabling better management of budgetary challenges. The state has been able to allocate resources more effectively and address its financial needs. This positive development has been welcomed by policymakers and residents alike.

Overall, the combination of the technology sector's success and the strategic changes to the tax code have played a significant role in California's improved fiscal outlook. The state is now better equipped to handle its budgetary responsibilities and ensure the well-being of its residents.