Neel Kashkari, the former Goldman Sachs Group Inc. executive chosen by ex-Treasury Secretary Henry Paulson to help rescue the U.S. banking system, is readying a challenge to California Governor Jerry Brown even as the world’s 10th-largest economy reaches its highest level in more than three decades.
Nine months into her job as California attorney general, Kamala Harris found herself across the table from lawyers for five of the nation’s biggest lenders, trying to hammer out a deal to help mortgage holders weather the foreclosure crisis.
The California High-Speed Rail Authority was barred from issuing more than $8 billion in bonds to help finance a high-speed rail line from San Francisco to Los Angeles after a judge said the agency failed to provide sufficient justification for approving the sales.
Napa Valley vintner Michael Marston voted for Jerry Brown in 2010, trusting the Democrat’s pledge that, with 26 years in California government, he could “lead a broken legislature out of a morass of poisonous partisanship.”
California’s recent announcement that it had balanced its budget for the first time since the 2007-08 fiscal year received broad coverage. Yet next to nothing has been said about the change in the state’s spending priorities over that six-year period.
California may reach annual budget surpluses of almost $10 billion, much of it from gains in stocks, by the time higher sales and income taxes expire in 2018, the nonpartisan Legislative Analyst’s Office forecast.
California is poised to shake off a legacy of budget deficits with an operating surplus more than doubling to $2.2 billion by the end of June on tax increases and gains in stocks, the state’s nonpartisan Legislative Analyst’s Office said.
Plans to mandate liability coverage for U.S. gun owners after last year’s school shooting in Connecticut have languished as opponents attack the proposals by comparing them to President Barack Obama’s health overhaul.