The misuse of settlement slush funds was one of the Obama Administration’s worst practices, which it used to end run Congress’s constitutional spending power. After the GOP took the House and tried to cut spending for liberal interest groups, the Obama Justice Department began to force corporate defendants to allocate a chunk of their financial penalties to those same groups.
Every manufacturing investment and job creation decision is made by company executives who are looking down the road at future costs, taxes, and regulations. Many states and countries want to attract manufacturing investments and jobs. If they have longstanding policies that will be in effect for ten or more years, they will beat out the locations with policies that expire in the short term. In fact, the larger and more important the investments, the more risk averse company executives will be; they will assume the expiration in existing law will occur, as promised.
Lawmakers may believe that California will nevertheless attract manufacturing jobs and investments even without the policies under discussion, but the data states otherwise. Since 2001 California has attracted less than 2 percent of US manufacturing new sites or expansions, far lower than the state’s share of manufacturing GDP. More recently the re-shoring surge shows a similar loss to the rest of the country, with under 2 percent of those jobs coming to California since 2013. That means manufacturing jobs and investments are now shifting to other locations under our noses and long-term policies to keep manufacturers here are crucial.
This year’s Fortune 500 marks the 63rd running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $12 trillion in revenues, $890 billion in profits, $19 trillion in market value, and employ 28.2 million people worldwide.
Lawmakers from both sides of the aisle raised concerns Tuesday that Gov. Jerry Brown’s state budget plan relies on a faulty calculation of a spending limit imposed by voters in 1979.
. . . An April 28 opinion from the legislative counsel of California, released publicly Tuesday, said that certain appropriations that Brown's budget looks to exclude from the spending limit "must be included" per the language that voters placed in the California Constitution.
A bill proposing multiple tax hikes on state employers was sent directly to the full Senate without a vote on Monday by the Senate fiscal committee. SB 567 (Lara; D-Bell Gardens) was identified as a job killer because it will significantly increase taxes on California businesses, who already have one of the highest tax burdens in the country.
SB 567 (Lara; D-Bell Gardens) was identified as a job killer because it will significantly increase taxes on California businesses, who already have one of the highest tax burdens in the country.