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SACRAMENTO, Calif. (AP) — California's nation-leading gas prices are set to climb even higher Monday, when the state gas tax increases 5.6 cents a gallon.It's the latest increase from a 2017 law designed to raise about billion a year for road and mass transit programs.It's among several changes taking effect at mid-year.RELATED: California will have the highest gas tax in the US starting July 1A 12 cent-per-gallon boost came that November, and voters last year rejected a Republican-led effort to repeal the law. But Southern California voters recalled one Democratic lawmaker who helped pass the measure.The money is split between state and local governments, with much of going to fix potholes and rebuild crumbling roads, bridges and public transportation.Republicans note that the tax is increasing even as Gov. Gavin Newsom and fellow Democrats complained about high gas prices. 898
SACRAMENTO, Calif. (AP) — California's job growth is now in its 113th month, tying the expansion of the 1960s as the longest on record as the world's fifth largest economy continues its recovery from the Great Recession, officials announced Friday.The country's most populous state needs between 8,000 and 9,000 new jobs each month to keep up with its growing workforce. But for the past nine years, California has averaged 29,200 new jobs each month, according numbers released Friday by the state Employment Development Department.The more than 3.2 million jobs California has added since 2010 account for more than 15% of the country's job gains over that time. Friday, the state's unemployment rate dipped to 4.1% for July, tying a record low first set in 2018."In every way the American economy is substantially impacted by how California is doing," Democratic Gov. Gavin Newsom said Friday at an unrelated news conference. "We continue to be optimistic, but not naive."The United States' trade war with China could put California's job gains in peril, according to Michael Bernick, a former director of the California Employment Development Department who is now special counsel with the Philadelphia-based law firm Duane Morris.Analysts have been warning for a year that tariffs on Chinese imports could threaten U.S. job growth. So far, that hasn't happened, but the Trump administration recently intensified the conflict by imposing 10% tariffs on 0 billion in Chinese imports, raising fears China would respond with tariffs on U.S. exports.Earlier this month, federal trade officials announced they would delay tariffs on about 60% of those imports until December."There is no reason we can't expect continued strong employment throughout 2019 in the absence of some external event. And the tariffs are that potential event," Bernick said.California's booming economy was felt earlier this year when Newsom signed a state spending plan that included an estimated .5 billion surplus, the largest in at least 20 years. But Newsom and others have been cautious about spending it, warning the country is due for a recession given the unusual length of the recovery."It is what keeps me up at night," California Treasurer Fiona Ma said Thursday about a possible recession. "Our president moves the market every day through his Twitters, and that is very unnerving for us."California's unemployment rate was lowest in the San Francisco Bay Area, where the country's tech industry is headquartered. Bernick said while Silicon Valley itself does not account for many jobs in the state, the money it produces has fueled a surge in accompanying industries including finance, real estate and retail.The unemployment rate was highest in the Central Valley, reflecting the seasonal demands of the state's billion agriculture industry. Imperial County in Southern California had an unemployment rate of more than 20% as surveys reported more than 14,000 people were out of work. 2992
SACRAMENTO, Calif. (AP) — California's state auditor says the California State Lottery skimped on giving million in revenue to fund public education funding and spent 0,000 on food and travel expenses without considering cheaper options. The auditor's report made public Tuesday says the lottery agency should have accounted for an increase in profits for the fiscal year that ended in June 2018 by providing million in public education financing.The auditor also recommended that the state legislature amend the Lottery Act to ensure audits of the lottery's procurement process at least once every three years.The California State Lottery says in a written response accompanying the audit that it disagrees with the auditor's findings and that the agency gives the most money it can for education.“Lottery revenues and contributions to education were declining in the years prior to the passage of AB 142. The year before this change, the Lottery’s contributions to education were approximately .05 billion. In contrast, last year the Lottery provided .8 billion–the highest contribution to date. Had the Lottery utilized CSA’s interpretation of the law, it would have had to intentionally suppress sales for certain games, resulting in fewer dollars to public education," CA Lottery wrote. “The Lottery disagrees with CSA’s underlying conclusions of the value of its Fairs and Festivals program. The Lottery must continually raise brand awareness, incentivize and persuade California adults to voluntarily purchase Lottery products to meet its mandate to provide supplemental funding to education." 1623
SACRAMENTO, Calif. (AP) — Pacific Gas & Electric's key lenders on Tuesday offered a billion plan to pull the utility out of bankruptcy and give the tarnished company a new name.The proposal filed in U.S. Bankruptcy Court would set aside up to billion of that billion to pay claims on the 2017 and 2018 wildfires caused by PG&E equipment, the Sacramento Bee reported.The plan offered by PG&E's leading bondholders would compete with an alternative that the newspaper says is being drafted by PG&E. Normally the company in bankruptcy has first crack at proposing an exit plan, but the bondholders said in a court filing that they filed their plan because PG&E has "wasted crucial time needlessly."The bondholders also want to rebrand PG&E as Golden State Power Light & Gas Company.Asked about the bondholders' plan, the utility said in a statement that it was considering all options as it navigates the bankruptcy process.The new proposal came four days after Gov. Gavin Newsom, a Democrat, floated the idea of a billion package to deal with the costs of future wildfires, paid for by ratepayers and shareholders of PG&E and the other two big electric utilities in California.Newsom's plan does not offer any cash for PG&E's existing liabilities but would revise state law to give utilities more certainty about recovering costs from ratepayers — enough stability that Newsom believes will allow PG&E to borrow the money it needs to pay existing claims, according to the Bee.The bondholders include some of the biggest investors on Wall Street, including Elliott Management, Pimco and Apollo Global Management. They have been quietly promoting a PG&E restructuring plan for weeks in conversations with legislators, Newsom's aides and others. Tuesday's court filing marks the first time they have taken the proposal public."Substantial new capital must be infused into the company," the bondholders said in their court filing.The governor's office had no immediate comment on the bondholders' proposal.Like Newsom's plan, the proposal is "ratepayer neutral" — meaning, customer rates would not go up to pay the costs of getting PG&E out of bankruptcy.But ratepayers would pay: The plan calls for a .50 monthly charge, a feature of PG&E bills since the 2001 energy crisis, to be extended for several years to help raise dollars for a wildfire insurance fund proposed by Newsom last week. That fund would help pay claims for future fires.___Information from: The Sacramento Bee, http://www.sacbee.com 2574
Roger Stone associate Jerome Corsi said Monday he expects to be indicted by special counsel Robert Mueller for "giving false information to the special counsel or to one of the other grand jury."Corsi made the comment during his streaming show on YouTube."And now I fully anticipate that the next few days, I will be indicted by Mueller for some form or other of giving false information to the special counsel or to one of the other grand jury or however they want to do the indictment. But I'm going to be criminally charged," Corsi said Monday.Corsi's lawyer declined to comment.Corsi could face any number of charges -- spanning from perjury to making false claims to obstruction of justice. The potential charges are related to false statements he made about his relationship with WikiLeaks and Stone.Corsi has been involved in Mueller's investigation for roughly two months and had already been subpoenaed for documents and testimony before the grand jury, and he complied with both.Corsi's role in the investigation largely revolves around the possibility that he was an intermediary between Stone and WikiLeaks.During the 2016 campaign, Stone publicly bragged about having "backchannel communications" with WikiLeaks founder Julian Assange, and on several occasions appeared to predict the WikiLeaks releases that roiled the race in the final stretch of the campaign. But in the two years since Trump's victory, Stone has walked back those claims and said his "backchannel" was merely New York radio host Randy Credico sharing information about his interviews with Assange. Credico denies serving as an intermediary between the two.Investigators have been skeptical of Stone's explanation. CNN has reported that?Mueller's team is examining the possibility that Stone had another intermediary beyond Credico, and that Corsi might have been involved.Corsi injected himself into Stone's situation last year when he claimed that one of his own articles for InfoWars inspired Stone to predict in October 2016 that there would be trouble coming for Clinton campaign chairman John Podesta. Not long after that, WikiLeaks started releasing thousands of Podesta's hacked emails.Stone denies that he ever told Trump about WikiLeaks' dumps before they became public. He also denies colluding with Russia.The-CNN-Wire 2331