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Currently California employers pay a federal unemployment insurance tax of 1.2% on the first $7,000 of wages per employee, but that will rise incrementally every year so long as California is in ...
The tug-of-war between California Gov. Gavin Newsom and the nonpartisan Legislative Analyst’s Office over the state’s projected budget deficit took a new turn Tuesday, when the LAO announced a ...
“Failing to increase the debt ceiling therefore would have the most impact in terms of severe unemployment, deep recession, and sudden stock market declines on the California economy,” said ...
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Sen. Mike Rounds (R-S.D.) said Monday that tying the debt limit to California aid for the recent deadly wildfires it has experienced is “not meant as a penalty.” Earlier in the conversation ...
California regulators take aim at JPMorgan, and Amazon tries 3D, without the glasses. The S&P 500's streak of five straight record high has ended. The index fell 6 points yesterday, the Dow ...
California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...
News reports and commentators have cited the state's various legislative supermajority requirements as a contributing factor to the state budget crisis. [23] [24] The state has a long history of supermajority requirements with a 1933 state ballot measure mandating a two-thirds supermajority to pass the state budget and California Proposition 13 (1978) mandating another two-thirds supermajority ...