California Democrats aren’t sold on Gavin Newsom’s plan to cut the budget deficit. How they disagree [The Sacramento Bee]
Assembly
Rivas, McGuire and Newsom administration officials are not talking publicly about any deals. But some lawmakers and budget subcommittee chairs have been more open about their feelings toward Newsom’s proposed budget.Here are some of the potential budget debates Assembly members are already having.
Changes to
Newsom’s revised budget, which he presented earlier in the month, cuts
The rate hikes were to come from higher taxes on managed care organizations, or insurers, that lawmakers approved last year and in March. The MCO tax allows
Assemblywoman
Weber asked for solutions from
“So, we know it’s happening,” Weber said. “This was one part of the solution to that issue, and we’re taking that away.”
Suspending tax deductions
The governor’s revised budget would suspend a net operating loss tax deduction for businesses with
Assemblyman
He said the deduction suspension “solves something in the short run,” but it “creates, I think, incredible uncertainty for the business community that translates into potential impact for future economic opportunity, which itself is going to generate tax base for future years as well.”
Ward expressed similar concerns about the tax credit cap.
“Something’s got to give, of course, in this budget,” he said. “And a broad brush sort of overture — that we’re going to suspend all of these credits — I worry might be a little bit of penny wise, pound foolish.”
Discontinuing homelessness grants
Newsom wants to cut
His revised budget also does not contain money for a sixth round of the program, worrying local leaders who have come to rely on the funding to pay for shelters and other services.
Fullerton Assemblywoman
Declining to close additional prisons
The LAO in February said closing five additional prisons would save
His revised budget would deactivate 46 prison housing units with 4,600 beds, resulting in
The LAO reported prisons will operate with 15,000 empty beds during the 2024-2025 fiscal year, reaching 19,000 by 2028.
Assemblyman
He and other lawmakers would like to see Newsom close more facilities rather than cut funding from subsidized child care and social safety net programs.
©2024 The Sacramento Bee. Visit sacbee.com. Distributed by Tribune Content Agency, LLC.



Studies from Wuhan University Provide New Data on Food Safety (The impact of agricultural insurance on consumer food safety: empirical evidence from provincial-level data in China): Foodborne Diseases and Conditions – Food Safety
Extending a paw: Coach Dabo Swinney helps deliver My Special Aflac Duck® to children ahead of the Aflac Kickoff Game
Advisor News
- Millennials are ready to bring their advisor to the family table
- How healthcare inflation can eat up a client’s retirement income
- Global economy ‘resilient’ in the wake of massive disruption
- Cryptocurrency legislation takes one step forward with bipartisan support
- IRS CEO FRANK J. BISIGNANO VISITS OHIO TO TOUT WORKING FAMILIES TAX CUTS PROVISIONS ON NO TAX ON CAR LOAN INTEREST, NO TAX ON OVERTIME, ENHANCED DEDUCTION FOR SENIOR CITIZENS
More Advisor NewsAnnuity News
- NAIC regulators continue pushing for annuity illustration updates
- Wink: Flat first-quarter annuity sales fall just short of $100B
- 26North Re Agrees to Acquire 100% of Independent Insurance Group
- Matthew Michelini named Athene president, with an eye on annuity growth
- Lincoln Financial Announces Executive Leadership Transitions
More Annuity NewsHealth/Employee Benefits News
- Conservative group alleges 6M fraudulently enrolled in ACA
- JOINT RELEASE: TWO BILLS BLUNT RISING HEALTHCARE COSTS, PROTECT CHILDREN WITH AUTISM SIGNED INTO LAW
- Texas bucks ACA enrollment trend
- Massachusetts attorney general's lawsuit alleges $100M fraud by UnitedHealthcare
- Where Affordable Care Act insurance coverage has dropped most in WA
More Health/Employee Benefits NewsLife Insurance News
- Study Data from National Institutes of Health Provide New Insights into Law and the Biosciences (Taking actuarial fairness seriously: what is required for the ethical use of genetics in insurance?): Legal Issues – Law and the Biosciences
- 26North Re Agrees to Acquire 100% of Independent Insurance Group
- Lincoln Financial Announces Executive Leadership Transitions
- Setting the record straight on premium-financed IUL
- AM Best Affirms Credit Ratings of Halyk-Life, JSC
More Life Insurance News