[Source: Sacramento Bee] California is great at making pension promises, but a dismal failure at properly funding them. The most recent annual report released by the California Public Employees’ Retirement System shows that, as of June 2016, CalPERS was more than $138 billion in debt. The teachers’ retirement system (CalSTRS) is nearly as bad, with Read More…
Tag: economy
Californians, economics and environmental protection
[Source: Capitol Weekly] Something that isn’t too surprising for legislators or Gov. Brown as California continues to be on the forefront of environmental policies: A major survey shows strong majority (62 percent) of Californians believe air pollution is a problem in their part of California. Two-thirds (66 percent) believe the effects of global warming have Read More…
California is taxed enough without Republican tax reform
[Source: Orange County Register] The House of Representatives has passed H.R. 1, the Tax Cuts and Jobs Act of 2017, by a vote of 227-205. Now it’s up to the Senate to pass its version, then both chambers will have to reconcile the differences in their plans. There are a few things California taxpayers can Read More…
Ports’ plan overlooks concerns on competition
[Source: Ronald Stein/Los Angeles Business Journal] Summary of the oped: Here we go again, the Clean Air Action Plan (CAAP) by the Ports is another go-it-alone crusade to lower emissions like the States’ AB32 from 2006 that produced miniscule results and cost the public billions of dollars. The CAAP has no meaningful analysis of competitiveness, Read More…
Small business lobby opposed to GOP tax bill
[Source: The Hill] A top small business group has come out against the Republican tax-reform bill, arguing the legislation “leaves too many small businesses behind.” “We are concerned that the pass-through provision does not help most small businesses. Small business is the engine of the economy. We believe that tax reform should provide substantial relief Read More…
California’s growth slowdown continues in August as the state loses 8,200 job
[Source: Los Angeles Times] California’s slowing economic expansion was evident in August as the state lost 8,200 net jobs and the unemployment rate rose to 5.1%, from 4.8% a month earlier, according to data released Friday from the state’s Employment Development Department. The drop in employment follows a robust July in which the Golden State Read More…
Latinos key to U.S. economic growth, study finds
[Source: FOX2NOW.com] Latinos are becoming an increasingly critical engine for America’s economic growth, a new report finds. In 2015, the 55 million Latinos living and working in the U.S. were responsible for $2.13 trillion — or 11.8% — of America’s $18.04 trillion gross domestic product, according to a study released Thursday by the Latino Donors Read More…
Aerojet Rocketdyne to cut 1,100 jobs in Sacramento, move some to L.A.
[Source: Los Angeles Times] Sacramento will lose 1,100 jobs over the next 18 months as rocket engine maker Aerojet Rocketdyne plans to relocate or cut positions in that facility and move jobs to Alabama, Canoga Park and other locations. The job changes are the next phase of a multiyear plan initiated in 2015 to reduce Read More…
Trump’s regulation rollbacks have already set off an economic revolution
[Source: New York Post] If you want to start a business, the World Bank says you’d be better off in Canada than setting up shop here in the United States, where mind-numbing government regulations smother entrepreneurs. That was true, anyway, before Donald Trump became president. In his address to Congress last week, Trump announced that Read More…