California Governor Jerry Brown said he needs more time to reach a compromise with Republican lawmakers over his plan to erase a resurgent $25.4 billion deficit, and asked legislators to delay plans for a vote.
Committees in California ’s Democrat- controlled Legislature passed spending plans including $8.1 billion of higher taxes opposed by Republicans, setting up a budget showdown as a constitutional deadline approaches.
Last month, the City Council of Culver City, California, gathered steps from where “The Wizard of Oz,” “Gone With the Wind” and other Hollywood classics were filmed, to declare a state of fiscal emergency and ask voters to raise the sales tax by half a cent for 10 years.
Governor Jerry Brown and Democrats who run the California Legislature won’t reach an agreement over his plan to curb public-employee pension costs before lawmakers break for vacation, according to a Brown spokesman.
Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. were sued by New York Attorney General Eric Schneiderman over the use of a mortgage database that the state said led to improper foreclosures.
Los Angeles Mayor Antonio Villaraigosa proposed dismantling California’s Proposition 13, which helped begin a nationwide anti-tax movement, in favor of a “grand bargain” that would boost levies on business property.
California, which sent a delegation to Austin last year to find out how the Lone Star State had beat it in employment growth, surged ahead of Texas to lead the nation in job creation for the last two consecutive months.
California Governor Jerry Brown said he’ll propose a new budget next month and plans to campaign in Republican districts to win support for a statewide referendum to retain $9.3 billion of higher taxes and fees.