Posts Tagged: fiscal

News

Corporate tax receipts slide, despite profits

Gov. Schwarzenegger unveils budget, 2009

It’s a litany of good news in Gov. Jerry Brown’s election-year budget. Safety net programs are being shored up. Debt is being repaid. Revenues are rising.

Except for corporate taxes.

In fact, business tax receipts are falling at the same time hefty profits are being posted by major companies across the country. (AP Photo/Rich Pedroncelli)

News

Draft budget offers new funds for higher ed

Gov. Jerry Brown

On his wish list for the next fiscal year, Gov. Jerry Brown has put higher education right near the top. California’s public colleges and universities, Brown said as he unveiled the state budget, “used to be four years and free. Now in many cases it’s six years and expensive.” (Photo: Samantha Gallegos/Capitol Weekly)

News

Budget details costs for immigrants’ licenses

Providing up to 1.4 million driver’s licenses to illegal immigrants will cost $65 million for the Department of Motor Vehicles during the first six months after the law takes effect January 1, 2015, according to Gov. Jerry Brown’s proposed budget plan. DMV plans five new temporary offices to handle the load.

News

Power politics at OC transit board

A shift in power at the Orange County Transportation Authority board in part reflects a dispute over power in the largest town in OCTA’s jurisdiction – Anaheim. Major issues are at stake, as OCTA is a significant entity in O.C. ruled by a politically savvy, 17-member board.

News

Fears persist over state’s economy

From the PPIC survey on how Californians view their government: Most people without health insurance intend to get coverage via the new law, even though skepticism runs deep over the ACA itself. The state’s fiscal condition is a mixed bag — the recession is weakening, but the widening divergence between those with resources and those without is a major concern. Support for Gov. Brown is strong as next year’s elections loom, bust Congress and President Obama are getting poorer reviews.

News

Budget bubble: Is past prologue?

Buoyed by a soaring stock market and rising home prices, personal income tax receipts are flowing into the state treasury at a rate exceeding all expectations. But one big question looms as lawmakers and the governor consider how to spend the government’s new found riches: what will happen when the music stops?

News

Bigger health care bite for state retirees

The rapidly growing cost of state worker retiree health care, a more generous benefit than received by active state workers, soon could be taking a bigger bite out of the state general fund than pensions. As if trading places, a new forecast expects the annual general fund payment for state worker retiree health care, now $500 million less than the payment for pensions, to be $500 million more than the pension payment in six years.

News

State’s finances showing strength

In 2013, the Legislature and the Governor agreed to a restrained state budget for 2013–14, and our forecast of state tax revenue collections has increased since last year. Accordingly, we now find that California’s state budget situation is even more promising than we projected one year ago.

News

A fiscal emergency in the desert

Desert Hot Springs is considering bankruptcy for the second time in 12 years. On Tuesday, the city council unanimously approved a fiscal emergency. An emergency declaration is a preliminary step in filing for bankruptcy protection, although there was no indication from council members that a bankruptcy action was coming.

News

Fiscal storm batters new Inland Empire town

(Ed’s Note: This story originally appeared in California City News, a content partner of Capitol Weekly.)

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“We’ve done everything we possibly could, including lobbying at the state Legislature and

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