There is division in America, and it’s the difference of income taxes between red and blue states says Forbes Magazine. Republicans control half of the states and only have one in the top 10 for worst income tax rates for the rich. Meanwhile, Democrat-controlled states continue to raise the tax rate on the state’s wealthiest […]
The Federal Transit Administration has delayed a $650 million grant related to California’s high speed rail project, reports Daily Progress. The decision follows Congressional Republicans calling for cancellation of the grant. Click here to read the article.
California’s roads are full of potholes and in terrible condition, and George Runner from the State Board of Equalization says the culprit is misplaced spending priorities. Runner writes in the Ceres Courier that existing revenues are more than adequate to pay for repairing California’s highways. Runner also implies that large amounts of existing revenues never […]
This year, California faces a $1.6 billion budget deficit and faces upwards of $3 trillion in outstanding debt, reports Todd Royal from Fox and Hounds. This figure does not factor in costs needed to pay for critical infrastructure such as roads, bridges, and water systems. The lion’s share of California’s debt comes from nearly $1 trillion […]
California public pensions are always promising two things: bigger and better. State funds like CalSTRS, which provides pensions for public teachers, has lowered the rate it expects to receive on its investments. It’ll end up being $153 million short, which Governor Jerry Brown has said will be added to the budget’s tab. The bigger issue […]
Rapidly rising pension costs and high government employee wages have strained the city budget in Richmond, California and forced cuts in services, reports the Los Angeles Times. Retirement costs have risen from $25 million to $44 million over the last five years and could exceed $70 million by 2021. Click here to read the article.
Nestlé has become the latest business to flee California, citing increasing housing costs and tax rates. Nestlé opened their new headquarters in Virginia, where the corporate and individual tax rate is much lower. Virginia also has much more lax labor laws and regulations. Nestlé won’t be the last business to leave California, as the $15 minimum wage is expected […]
A new report has come out that says that California public workers make twice what their private sector counterparts make. Public workers average a little over $120,000, while private sector workers average $60,000. Combine that with the fact that the state and local governments are $1.3 trillion in debt when it comes to public worker […]
California has set high goals for zero-emission vehicles and charging stations. 3 major utility companies have put forth proposals to build electric vehicle charging stations at homes and businesses across the state. To pay for these plans, the utility companies would raise upwards of $1 billion from rate increases.
In California’s 2017-2018 budget, is news of Californians starting to re-enter the workforce. However, the percentage of new jobs from the high wage sectors has dropped from 50% in 2012 to a low of 36% this past year. This means less money will be taken in by income tax since California taxes higher incomes but […]