Many American households remain financially fragile and uncertain about their retirement prospects despite a booming job market that is lifting wages, according to a Federal Reserve survey released Thursday. One-quarter of working individuals say they have no retirement savings at all, the survey said, and 44% worry that their saving isn’t on track. Among younger […]
Aiming to short-circuit an idea that has long captured the imagination, if not yet the votes, of legislators, a study backed by California Chamber of Commerce has found that adopting a business service tax—i.e., a tax on lawyers, accountants and consultants—would hurt the economy and put the state at a competitive disadvantage. The 56-page report […]
Earlier this year, Democrats in the state Capitol introduced several measures intended to limit Californians’ consumption of soda, arguing that rotting teeth and rising diabetes presented a public health crisis demanding action akin to regulations on cigarettes. They proposed taxing soda, banning Big Gulps, prohibiting in-store discounts on soft drinks, banishing them from the front […]
California Governor Gavin Newsom recently called for the state’s energy commission to investigate the cause of California’s relatively high gas prices. At the time of Newsom’s request on April 23, California drivers were paying an average of $4.03 per gallon according to AAA, or $1.18 more than the national average. “Independent analysis suggests that an […]
Spending at U.S. retailers declined in April, signaling hesitation among consumers as the second quarter began. Retail sales, a measure of purchases at stores, restaurants and online, declined a seasonally adjusted 0.2% in April from a month earlier, the Commerce Department said Wednesday. The drop fell short of economists’ expectations for a slight increase. It […]
Buoyed by California’s strong economy, Gov. Gavin Newsom sent state lawmakers a revised budget on Thursday that boosts his already-hefty January proposal to $213.6 billion. Ka-ching! Public schools will reap most of the gains if the Democratic-controlled Legislature rolls with him. Newsom also upped his ante on the housing crisis with a proposed $1 billion […]
Last year’s big tax cut is about to start shrinking. The Internal Revenue Service on Thursday announced the tax code’s parameters for 2019, implementing a new method for making inflation adjustments that will result in higher tax payments—and government revenue—over time. The shift will cost Americans $133.5 billion over a decade, according to Congress’s Joint […]
Jabil Inc., a manufacturer for tech giants like Apple Inc., is closing one of its Silicon Valley sites and laying off or transferring hundreds of local employees as business slows. The St. Petersburg, Florida-based electronics manufacturer and contractor is closing its Silver Creek facility in San Jose, affecting 298 total employees, the company confirmed to […]
Once again, PPIC tested the value of Proposition 13 with voters. And, once again likely voters declared Prop 13 worthy. Asked if Proposition 13 was mostly a good or a bad thing, 64% of likely voters said it was a good thing, only 24% responded it was mostly bad. The margin was larger than the […]
California’s cement industry could be overhauled if Sierra Club California and a Bay Area Assembly member get their way. A new Sierra Club study says cement production is responsible for 5 percent of carbon pollution globally. “This is one industry that has managed to keep the status quo even though the science is showing we […]
A senior aide to a former mayor of Atlanta collapses on a courtroom floor after hearing that she is headed to prison. F.B.I. agents in Los Angeles haul away computers and documents during a raid of a veteran councilman’s office. News cameras trail the most powerful alderman in Chicago as he walks to court to […]
Under Peskin’s proposal, owners of commercial properties in Neighborhood Commercial Districts — areas where stores and services are clustered — that are vacant for more than six months would face a fine of at least $250 per day. And while storefronts are the visible face of the long-term vacancy problem, Peskin wants to target residential […]
The 2017 deal, for subsidies worth as much as $350 million, rescued a cliffhanger vote in the Legislature that extended the state’s cap-and-trade program to 2030. Under cap and trade, industries may pay to pollute by buying allowances in a carbon-trading market. In addition, some receive free allowances from the state. The state Air Resources […]
The 2018 – 2019 Judicial Hellholes report shines its brightest spotlight on nine jurisdictions, courts or legislatures that have earned reputations as Judicial Hellholes. Some are known for welcoming litigation tourism or as hotbeds for asbestos litigation, and in all of them state leadership seems eager to expand civil liability. A recent study released by […]
Oregon’s workers compensation system is the go-to oracle on how costs vary from state to state. Its latest national survey, released this month, found that California, which long had the nation’s highest costs as a percentage of payroll, had dropped to No. 2 behind New York. California’s current rate in the survey, 2.87 percent, is […]