A fairly constant refrain among California’s Democratic politicians and their liberal allies is that corporations should be paying more in taxes to support public services. . . There is, however, no consistency. The same folks who demand higher business taxes as a matter of supposed principle are often willing, even eager, to give certain industries and even certain corporations big tax breaks.
Palo Alto-based Tesla is opening a new 431,000-square-foot facility in the San Joaquin County city of Lathrop.
The oil and gas industry makes a significant contribution to the Californian economy. Extraction, production, refining and petroleum products manufacturing result in highly tradable products both consumed domestically and exported, producing high revenues, high wage jobs and significant fiscal revenues for all levels of government. In this report, the Economic and Policy Analysis Group of the Los Angeles County Economic Development Corporation (LAEDC) conducts an industry contribution analysis of the oil and gas industry in California in 2012.
The University of California, Berkeley raised its out-of-state student enrollment target to 23 percent because it needs more money.
While the people who decide where to make movies uniformly say that they’d prefer to work in their hometown, better subsidies that other states and countries offer has made that almost impossible to justify.
California’s economy added 11,800 net new jobs in March, a meager showing after robust gains the month before, the Bureau of Labor Statistics reported Friday
Mr. Bocanegra is leading an aggressive push, along with entertainment companies and Hollywood unions, to hand out as much as $2 billion in new tax breaks to increase movie and television production in California, which has lost business to states like New York with far more generous subsidies. Last year, for the first time, more studio movies were filmed in Louisiana than in California, according to the nonprofit FilmL.A.
Problems at some of the state’s fuel refineries have sent gasoline prices soaring in California just in time for the kickoff of the busy driving season.
After a months-long battle with the city of Irwindale over complaints about a spicy odor, Sriracha sauce creator David Tran said Wednesday he is now seriously considering moving his factory to another location.
One of California’s few emollients for employers is its limit on “pain and suffering” medical liability judgments, which has improved access to medical care and held down health costs. But look out: Plaintiffs lawyers abetted by Attorney General Kamala Harris are now trying to gut the cap with a ballot initiative dressed in patient-protection garb.
Probably the best single indicator is the unemployment rate. At 6.7 percent, it is now slightly more than 1 percentage point above the 5.2 to 5.6 percent central tendency of the Committee’s projections for the longer-run normal unemployment rate. This shortfall remains significant, and in our baseline outlook, it will take more than two years to close.
Preliminary estimates suggest that minimum wage increases are associated with no net changes in government benefit receipt in the pre-Great Recession Era. While minimum wage increases may aid some working families in leaving the welfare rolls, adverse labor demand effects may increase government benefits received by others.
As the nation’s second largest city, Los Angeles has a vibrant culture, a diverse population and a strong economy. The city is not only the largest entertainment capital in the world, but also the nation’s largest manufacturing center and retail market, a major tourist destination and financial center, and home to one of the world’s busiest ports.
Contrary to the oft-repeated claim that high-income Californians pay an unfair amount of taxes, it is actually California’s low-income households who pay the largest share of their incomes in state and local taxes. Given widening income inequality over the last generation, and the ongoing economic challenges facing Californians in the aftermath of the Great Recession, policymakers could take specifi c steps to reduce the regressive nature of California’s system of state and local taxes and to promote economic security for low-income families.
A Time for Truth is a candid assessment of the challenges and opportunities Los Angeles faces. A Time for Action is the second and final report the LA 2020 Commission will publish. This report contains a series of concrete measures which, if adopted, will enhance transparency and accountability in City Hall, put Los Angeles on a path toward fiscal stability and renew job creation in the region.