Yet in the final tax bill Mr. Trump signed in December, there they are: the full panoply of tax incentives for renewable energy, as well as the $7,500 electric vehicle tax credit.
But Tesla has been conspicuously silent on the law. And G.M.’s response has been qualified. A company spokesman, Patrick E. Morrissey, said G.M. supports continuing the electric vehicle credit “as an important customer benefit that can help accelerate the acceptance of electric vehicles,” but added, “We believe additional reform to the E.V. tax credit would help grow the market for of electric vehicles even more.”
These pension plans are underfunded after a bull market in stocks has doubled since it’s last peak in June 2007, and has nearly quadrupled since it’s last low in March 2009. When stocks and real estate have been running up in value for eight years, pension plans should not be underfunded. But they are. CalPERS should be overfunded at a time like this, not underfunded. That bodes ill for the financial status of CalPERS if and when stocks and real estate undergo a downward correction.
Gov. Jerry Brown’s landmark law that sends additional dollars to K-12 students from disadvantaged communities will meet its funding goals two years ahead of schedule under a budget proposal to be unveiled in Sacramento on Wednesday.
The governor’s budget, according to sources who spoke on the condition they not be identified, will commit to full financing of the Local Control Funding Formula at a cost that could be close to $2.6 billion in the fiscal year that begins in July.
But these are not necessarily flush times, warn the liberal policy advocates who normally would be urging Brown to put the surplus into new government services.
They see two strong headwinds they expect Brown to cite when he reveals a budget that salts away revenue and avoids expensive commitments.
Rendon shelved the bill last year, after it passed the Senate, calling it “woefully incomplete,” because it does not specify how the state would would seek federal approval, bypass constitutional spending limits and cover as much as a $400 billion cost.
Six months later, the speaker says the status of Senate Bill 562 remains the same.