Economy

Some say California's economy would be more stable if we taxed the services of lawyers, accountants and consultants. A Cal Chamber study disputes that.

John Chiang says California's public pensions should stay invested in Uber and Lyft to improve worker benefits.

Inside the Capitol’s corridors and pro-development quarters around the state, the California Environmental Quality Act is increasingly disparaged as a villain in the state’s housing crisis. But the act’s environmentalist defenders are pushing back, saying many projects slip too easily through—leading to overdrawn groundwater tables and disappearing forests. And whatever the urgency to build more housing, environmentalists say there’s nothing to preempt a rigorous review of commercial proposals—even ones as visually appealing as vineyards in the Napa Valley.

Loans of less than $10,000 with rates of over 100% have swelled to nearly one-third of California's non-bank consumer lending market. Consumer advocates say that lenders are profiting off of borrowers’ desperation or lack of financial sophistication, and often make a bad situation worse. The lenders say the charge up to 200% to cover the risks they incur. The Legislature is considering a bill to cap the interest rate for such "small dollar" loans.

Think you pay too much in state income taxes? Well, if you made $82,643 and paid $5,000 to Sacramento, then for better or worse, you are the average California taxpayer. The state’s Franchise Tax Board breaks down personal income tax collections and total tax liability by ZIP Code. For the 2018 filing year, CALmatters took […]

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 […]

California isn’t as prepared as it may seem for the next recession. And when the next pullback hits, the state may have to fight off red ink without a historically crucial ally: Washington, D.C.

California is getting old. Within a decade, more than 20% of the state’s residents will be seniors -- a higher proportion than currently resides in Florida, a state famous for its large population of snowbird retirees.

Susan Harman, California Public Banking Alliance, Oakland Dan Walters’ April 28 Commentary on Assemblyman David Chiu’s Assembly Bill 857, the local public bank bill, is a dumb comment on a very smart bill. In his commentary, Walters writes says that shifting local governmental funds away from the Wall Street banks they’re in now will have “virtually […]

Brett Garrett, Santa Cruz Cities such as Oakland and Los Angeles are eager to divest from large banks that invest in fossil fuels or engage in unethical business practices. These cities can benefit from Assemblyman David Chiu’s Assembly Bill 857, which will establish a framework for licensing public banks, owned by local or regional government entities. […]