Posts Tagged: revenue
This poker player's hand is the stuff that dreams are made of.. (Photo: Freer via Shutterstock)
OPINION: Over the last decade, many California cardrooms have moved beyond their gold rush roots by upgrading and adding hotel and dining options to meet patron demands for the gaming experiences found elsewhere. Today, more than 75 state-licensed cardrooms operate in California, providing thousands of living-wage jobs and valuable general fund revenue to communities across the state.
Gov. Brown on Jan. 9 in the state Capitol as he unveiled his 2015-16 draft budget. Brown's budget includes the newly approved "rainy day fund."(Photo: AP/Rich Pedroncelli)
California’s economy may not be booming, but it is definitely on the mend. The Bay Area is churning out high-tech profits and high-wage jobs. In other parts of the state, unemployment is inching down toward full-employment levels. And as always when California’s economy improves, tax revenues are soaring. With an income tax system highly dependent on the wealthy and their investment income, the state treasury typically sees a windfall whenever times are good.
California motorists in a traffic jam. (Photo: Shutterstock)
Our transportation infrastructure is literally falling apart due to poor maintenance. Recently, because of deferred maintenance, a guard rail on an East Bay overpass fell onto I-880. The several tons of falling metal didn’t just hold up traffic, it also damaged cars and injured drivers. Our crumbling roads are more than just a nuisance. They’re dangerous.
A bank oif vending machines entice a customer. (Photo: Deymos.HR, via Shutterstock)
If you buy it in a grocery store, you don’t pay sales taxes. If you buy it from a vending machine, you do. Fair? Assemblyman Matthew Dababneh doesn’t think so, but so far some of his colleagues disagree.
Internet gambling, an illustration. (Photo: Pedro Sala)
Legalizing internet poker in California – a fruitless effort that has spanned seven years, a dozen major bills and hundreds of hours of tense talks – was headed for defeat in the Capitol, following opposition from a key Senate committee leader. Casino-owning tribes, card clubs and the horse racing industry were unable to agree on a formula that would allow them to share in the online gaming market, potentially worth hundreds of millions of dollars.
An online gambler concentrates on his game in Nevada, which recently authorized internet gaming and may license fantasy sports companies.(Photo: Associated Press)
Rival interests are rolling the dice to legalize California’s internet gaming market, the most lucrative in the nation. At stake in the Capitol negotiations is a prize worth hundreds of millions of dollars — and maybe more. It’s not the first time. Efforts to legalize internet poker in California – where the revenue may top $1 billion annually over a decade — have failed repeatedly in the past.
In an artist's rendering, California's proposed bullet train zips along the Central Valley. (Illustration: High Speed Rail Authority)
California’s $67.5 billion bullet train has been described as “off-track” so long that some thought it was permanently derailed. In fact, the outlook has brightened: A series of court decisions, a move by Gov. Brown to pump money into the effort and an awakening interest from high-dollar investors has given the huge project new momentum.
A web page of the L.A. Times viewed through a magnifying glass. (Photo: Gil C., via Shutterstock)
For the 133-year-old Los Angeles Times and other print news publications adapting to the digital media age, the only thing that’s certain is an uncertain future. That became clearer than ever when the Tribune Company announced last week that on Aug. 4 it will create a new corporation known as the Tribune Publishing Company to take over its eight newspapers, including the L.A. Times and Chicago Tribune.
Two years after Gov. Jerry Brown and the Legislature dismantled California’s $5 billion-a-year redevelopment program, Brown wants to bring some elements back — but he’s offering less money, a different name and a change in local voters’ approval. The crux of Brown’s plan is to expand the reach of the rarely-used, little-known Infrastructure Finance Districts. The districts, or IFDs, have taxing authority and are created with voter approval. They function on property tax dollars and focus on highways, transit and sewer projects, libraries, parks and child care centers.
Preliminary data from the Franchise Tax Board (FTB) indicate that December 2013 personal income tax (PIT) and corporation tax (CT) revenue collections were a combined $1.6 billion (20 percent) above monthly projections included in the state’s 2013-14 budget plan.