Posts Tagged: inflation
About 48,000 academic union workers at the University of California are in the second week of a strike at UC’s 10 campuses, from San Diego north to the Lawrence Berkeley National Laboratory. They walked off their jobs on Nov. 14 amid complaints of unfair labor practices, an action that closed some classrooms and research labs.
The midterm campaign season enters its final stretch after Labor Day — in the context of rising consumer prices and higher interest rates that have created financial turbulence and uncertainty about job growth. Meanwhile, Californians are feeling the impact of climate change: severe drought, heat waves, and wildfires. Recently passed federal and state legislation aims to address these issues ahead of the highly consequential Nov. 8 election.
ANALYSIS: For the past two years, redistricting experts and politicos, myself included, have been building toward the 2022 election cycle. A big part of this included building tools for analyzing potential new districts for their partisan breakdown and likely voting behavior. Getting these kinds of metrics was critical to the drawing of lines by legislatures that still have the control, and performing advocacy before commissions in states, like California, that have transitioned to a public and open redistricting process.
The latest chapter in a decades-long battle between physicians and lawyers is unfolding through compromise in Sacramento and so far, almost everyone involved has come aboard. The political battle revolves around California’s Medical Injury Compensation Reform Act (MICRA) which limits the amount of money patients can receive if injured by a physician in connection with medical treatment.
OPINION: Imagine paying the insurance premiums on your home for years, thinking you’re protecting yourself against disaster. Then, horribly, one day your house burns to the ground in a catastrophic fire. Only then do you find out the shocking news that your insurance policy will pay the cost to replace your home – but only up to the value of what the home was worth in 1967, back when Lyndon Johnson was President.
The main California State Teachers’ Retirement System pension fund is seriously underfunded, and school district pension costs are more than doubling, biting deep into classroom budgets. But the agency, called CalSTRS for short, has an inflation-protection fund with a growing $9.8 billion surplus and an eye-popping positive cash flow.
OPINION: Senate Bill 3, authored by State Senator Mark Leno (D-San Francisco), would enact an unwarranted additional hike in the state’s minimum wage, similar to his measure earlier this year, SB 935, which was a California Chamber of Commerce “Job Killer”. California’s minimum wage was just raised $1 to $9 per hour on July 1 of this year, well above the current $7.25 per hour mandated under federal law.
OPINION: The Congressional Budget Office report also shows that under the hike to $9 per hour, 300,000 people would be lifted out of poverty. However, another estimated 100,000 to 200,000 people would lose their jobs. If the wage increases to $10.10 per hour the number of people being raised out of poverty would rise to 900,000 while 500,000 people would lose their jobs.
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