State Budget
Blog
CalPERS and CalSTRS Annual Returns Latest Public Pension Crisis Warning Sign
The COVID-19 recession has fueled volatility in the financial markets. Investment portfolios saw sharp drops in March and April but have rebounded recently as the economy opened up in some areas. This volatility has negatively impacted public pension funds. The Sacramento Bee reported last week that, “California’s pension fund for ...
California
California Doubles Down on Unworkable Data Privacy Law During Second COVID Shutdown
Businesses were ordered to close. Schools were shuttered. People were told to stay home. Many believed that in a week or two life for the most part would return to normal and that COVID would be a bad memory. Now, four months later, California has not just halted reopening but ...
Commentary
Medicaid Expansion Will Add To Oklahoma’s Woes
Late last month, Oklahoma voters narrowly approved a ballot measure expanding the state’s Medicaid program to childless adults making up to 138% of the poverty level under the terms of Obamacare. Missouri could follow suit next month when a similar ballot initiative comes up for a vote. Medicaid expansion seems ...
Blog
Notes from Taxifornia
Last week, as millions of Californians filed their tax returns on the delayed July 15 tax deadline, there was good and bad news on the tax increase front in Taxifornia. Split Roll Tax Increase Campaign Based on Class Warfare I wrote last month that how the 2020-21 state budget deal, ...
Blog
Latest Rankings Further Proof California Must Remove Barriers to Opportunity
Recently, I attended a webinar hosted by the Legatum Institute, a UK-based think tank, where they discussed the results of their latest “Prosperity Index”. According to the Index’s executive summary, Legatum hopes that “nations around the world (will) assess their strengths and weaknesses (in the rankings) to determine the economic ...
Blog
Budget Trailer Bills Prove Once Again the “Devil is in the Details”
On Monday, Gov. Newsom announced via press release that he had signed the 2020-21 state budget. Naturally, much of the budget press coverage typically focuses on the debate between the Governor and the Legislature and the total state spending picture. Often overlooked are the budget “trailer bills” – the policy ...
Commentary
Governor Newsom’s Medi-Cal Proposal Betrays California’s Poor
Governor Gavin Newsom just unveiled a new budget proposal aimed at digging California out of a $54 billion deficit brought on by the pandemic. He hopes to slash Medi-Cal payments to healthcare providers and use the money to enroll more people in the program. This week, the Democrat-led state legislature rejected those ...
Blog
Assembly’s Festivus-Style ‘Airing of Grievances’ Does Not Disappoint
In my last blog post, I previewed the Assembly’s unusual “Committee of the Whole” hearing on the state budget, comparing it to Seinfeld’s Festivus “Airing of Grievances.” Little did I know how clairvoyant I really was. Last Tuesday’s five hour session could charitably be called a “gripe fest” as lawmakers ...
Commentary
The Savings Potential Of Biosimilars Is More Urgent Than Ever
It was not long ago that the economy’s rising tide was supporting state budgets across the country. As the Pew Charitable Trusts noted, widespread economic prosperity was supporting tax revenue growth and creating budget surpluses. When times are good, saving money is not always a priority in state capitols. But, times are ...
Blog
First Legislative Budget Hearing on Coronavirus Promises Tough Questions
This afternoon, the Senate Budget Committee will hold its first hearing on the state’s response to the coronavirus. Today’s hearing promises to be memorable for two reasons. It will be the first hearing with “social distancing” practices that have become a way of life enforced. And it also promises to ...
CalPERS and CalSTRS Annual Returns Latest Public Pension Crisis Warning Sign
The COVID-19 recession has fueled volatility in the financial markets. Investment portfolios saw sharp drops in March and April but have rebounded recently as the economy opened up in some areas. This volatility has negatively impacted public pension funds. The Sacramento Bee reported last week that, “California’s pension fund for ...
California Doubles Down on Unworkable Data Privacy Law During Second COVID Shutdown
Businesses were ordered to close. Schools were shuttered. People were told to stay home. Many believed that in a week or two life for the most part would return to normal and that COVID would be a bad memory. Now, four months later, California has not just halted reopening but ...
Medicaid Expansion Will Add To Oklahoma’s Woes
Late last month, Oklahoma voters narrowly approved a ballot measure expanding the state’s Medicaid program to childless adults making up to 138% of the poverty level under the terms of Obamacare. Missouri could follow suit next month when a similar ballot initiative comes up for a vote. Medicaid expansion seems ...
Notes from Taxifornia
Last week, as millions of Californians filed their tax returns on the delayed July 15 tax deadline, there was good and bad news on the tax increase front in Taxifornia. Split Roll Tax Increase Campaign Based on Class Warfare I wrote last month that how the 2020-21 state budget deal, ...
Latest Rankings Further Proof California Must Remove Barriers to Opportunity
Recently, I attended a webinar hosted by the Legatum Institute, a UK-based think tank, where they discussed the results of their latest “Prosperity Index”. According to the Index’s executive summary, Legatum hopes that “nations around the world (will) assess their strengths and weaknesses (in the rankings) to determine the economic ...
Budget Trailer Bills Prove Once Again the “Devil is in the Details”
On Monday, Gov. Newsom announced via press release that he had signed the 2020-21 state budget. Naturally, much of the budget press coverage typically focuses on the debate between the Governor and the Legislature and the total state spending picture. Often overlooked are the budget “trailer bills” – the policy ...
Governor Newsom’s Medi-Cal Proposal Betrays California’s Poor
Governor Gavin Newsom just unveiled a new budget proposal aimed at digging California out of a $54 billion deficit brought on by the pandemic. He hopes to slash Medi-Cal payments to healthcare providers and use the money to enroll more people in the program. This week, the Democrat-led state legislature rejected those ...
Assembly’s Festivus-Style ‘Airing of Grievances’ Does Not Disappoint
In my last blog post, I previewed the Assembly’s unusual “Committee of the Whole” hearing on the state budget, comparing it to Seinfeld’s Festivus “Airing of Grievances.” Little did I know how clairvoyant I really was. Last Tuesday’s five hour session could charitably be called a “gripe fest” as lawmakers ...
The Savings Potential Of Biosimilars Is More Urgent Than Ever
It was not long ago that the economy’s rising tide was supporting state budgets across the country. As the Pew Charitable Trusts noted, widespread economic prosperity was supporting tax revenue growth and creating budget surpluses. When times are good, saving money is not always a priority in state capitols. But, times are ...
First Legislative Budget Hearing on Coronavirus Promises Tough Questions
This afternoon, the Senate Budget Committee will hold its first hearing on the state’s response to the coronavirus. Today’s hearing promises to be memorable for two reasons. It will be the first hearing with “social distancing” practices that have become a way of life enforced. And it also promises to ...
