Republican plans to slash the state-and-local tax deduction are already reaping benefits in high-tax states. Democrats in the Northeast say they’re having second thoughts about raising taxes. And lo and behold, California Gov. Jerry Brown is arguing that public pensions aren’t ironclad.
San Diego boosted pay between 25 percent and 30 percent for the city’s police officers on Tuesday to help solve a crisis of departing officers that has lengthened response times, limited proactive policing and ballooned overtime budgets.
The City Council unanimously approved the pay hikes, which also aim to attract recruits to the police academy. They come as the number of officers has dropped to about 1,820 — more than 10 percent below a goal of 2,040.
The nation’s largest public pension fund is leaving money on the table by favoring environmental and social causes in its portfolio, a business-backed nonprofit argues in a study it’s releasing Tuesday on the California Public Employees Retirement System.
The report by the American Council for Capital Formation criticizes CalPERS’ sustainable investing strategies, which include engaging with companies to encourage them to address climate change, pressuring companies to diversify their boards of directors and investing in certain funds that nurture companies with those priorities.
U.S. worker productivity rebounded in the third quarter while hourly wages rose moderately, further signs the economy is strengthening.
Productivity—a measure of goods and services produced in the U.S. per hour worked—rose at a 3% annual rate in July through September, the Labor Department said Wednesday, the biggest jump in three years.
In addition to the libraries and recreation centers, the strike brought to a standstill street cleaning, senior centers, the hauling away of illegal dumping, fire and building inspections, parking citations, after-school programs, and the filing of non-emergency crime and traffic reports. When strong winds Monday night knocked down 15 trees and many more branches, emergency contractors were brought in to clear them, said city spokeswoman Karen Boyd.