Web Version [link removed] | Update Preferences [link removed] CBRT in the News Newsom In Denial About The State Of The Economy

The last time there was an exodus this big in California, it was directed by Cecil B. DeMille.

The state’s population declined in 2020 for the first time in its history, and it appears that California will lose a congressional seat in the reapportionment following the 2020 Census. Even more concerning for the future is the mass departure of job-creating businesses.

The Hoover Institution at Stanford University reported in September that 765 commercial facilities left California in 2018 and 2019. That doesn’t include an estimated 13,000 businesses that crossed the border into other states between 2009 and 2016.

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That’s literally not true. The Center for Jobs & the Economy, a non-profit project of the California Business Roundtable, notes that “California policies have created the highest in the nation cost-of-living and strictest in the nation regulatory costs.” As a result, a growing number of companies are “relocating, redistributing or centralizing” their operations – and their jobs – in other states.

Read More [[link removed]] Despite Newsom’s Cheerleading, California’s Vaccine Rollout Has Problems

Gov. Gavin Newsom’s belated State of the State address last week was fundamentally a self-administered pat on the back for handling the COVID-19 pandemic, refuting the “nay-sayers and dooms-dayers” who want him recalled.

Newsom’s cavalcade of accomplishments prominently featured California’s rollout of vaccinations against the deadly infection that began late last year.

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A key indicator is the state’s lagging record in administering the vaccination doses it has been allocated, according to the California Center for Jobs and the Economy, the research arm of the California Business Roundtable.

The California Center, using data from the Centers for Disease Control, reported that through last week, California had used slightly over 70% of its supply, well under the national figure and ninth lowest among the 50 states.

Read More [[link removed]] Business Climate and Job Creation Household Spending Picks Up After Cooling Last Month

Household spending cooled last month but already appears to be accelerating again as consumers—armed with federal stimulus money and many of them newly vaccinated—travel, dine out and return to shopping centers.

Consumer spending—the biggest driver of economic activity in the U.S.—fell 1% in February, the Commerce Department said Friday. The drop was largely attributed by economists to cold weather and snowstorms that struck much of the country, shutting businesses and keeping families indoors.

Household income—including Americans’ wages, investment earnings and government aid—also fell, by 7.1%, though that drop, too, was temporary. The federal government’s distribution of checks to most households as part of a $900 billion coronavirus-relief package had caused household income to rise by 10.1% the prior month, which also contributed to the jump in spending. Income reverted to more normal levels in February.

Read More [[link removed]] U.S. Jobless Claims Reach Lowest Level Of The Pandemic

Jobless claims fell to their lowest level of the pandemic last week as stronger hiring and consumer spending drive a U.S. economic revival.

Worker filings for unemployment benefits, a proxy for layoffs, fell to 684,000 last week from 781,000 a week earlier. Claims are now at the lowest point since mid-March of last year, before lockdowns triggered millions of layoffs. They are also below the pre-pandemic high of 695,000, a threshold not crossed for 52 weeks.

“The recovery is really hitting full steam again, and all of the conditions will be in place for a real, explosive liftoff in the summer when hopefully we’ve reached a higher vaccination threshold,” said Julia Pollak, labor economist at jobs site ZipRecruiter.

The four-week average for jobless claims, which smooths out volatility in the weekly figures, also fell to a pandemic low of 736,000.

Read More [[link removed]] Fed Says Restrictions on Payouts To End For Most Banks After June 30

The Federal Reserve said temporary limits on dividend payments and share buybacks will end for most banks after June 30, following the completion of annual stress tests to determine their resilience to a hypothetical downturn.

“The banking system continues to be a source of strength, and returning to our normal framework after this year’s stress test will preserve that strength,” Randal Quarles, the Fed’s vice chairman of supervision, said Thursday.

The move is a vote of confidence for big banks from the Fed, which placed restrictions on bank payouts last summer, citing the need to conserve capital during the coronavirus-induced downturn. It initially barred buybacks and capped dividends so that they would not exceed a bank’s recent profits.

Read More [[link removed]] Senate Democrats Lay Plans For Higher Corporate Taxes

Democrats in Congress began building the policy case for sharp corporate-tax increases, arguing that Republicans went too far with their 2017 tax cuts.

Sen. Ron Wyden (D., Ore.), chairman of the Senate Finance Committee, said he and Sens. Sherrod Brown (D., Ohio) and Mark Warner (D., Va.) will soon release a more detailed framework for how multinational corporations should be taxed.

Sen. Bernie Sanders of Vermont, the Budget Committee chairman, released a plan Thursday that would raise $1 trillion over a decade. Sen. Elizabeth Warren (D., Mass.) said she is writing legislation to impose a minimum tax on profitable companies. Versions of some of those ideas are expected to appear in the tax-and-spending agenda that President Biden will unveil next week, and Congress is poised to act on them this year to help pay for infrastructure spending.

In all, Democrats are planning significant reversals of the 2017 tax law signed by then-President Donald Trump, though they aren’t calling for returning to the previous status quo. They are particularly eyeing features of the law that they say give companies incentives to move activity outside the U.S.

Read More [[link removed]] PepsiCo Transforms Frito-Lay Plant As Part Of Sustainability Strategy

The implementation of new technologies over the past year has allowed Frito-Lay, Inc. to reduce the absolute greenhouse gas emissions (GHG) of its Modesto, Calif., transportation fleet by 53% while lowering fleet diesel usage by 78%.

The improvements are just a few of the changes PepsiCo, Inc. announced on March 25 as part of an update on its Frito-Lay manufacturing site in Modesto.

PepsiCo first announced it would be transforming the 50,000-square-foot Frito-Lay plant in October 2019, part of a broader sustainability strategy for the Purchase, NY-based company that includes changes across its end-to-end value chain to build a more sustainable food system and reduce its environmental impact. Since the $30.8 million project was announced, PepsiCo said its efforts in Modesto have “further evolved into an industry-leading showcase for environmentally sustainable manufacturing, warehousing and distribution.”

In addition to using zero-emission and near-zero-emission technologies to reduce the Modesto site’s fleet absolute GHG emissions by more than half, the Modesto site has been able to convert to 100% renewable electricity for direct operations through a combination of renewable electricity certificates and on-site generation, due in part to PepsiCo achieving 100% renewable electricity in the United States in January 2021.

Read More [[link removed]] Gov. Newsom And Legislators Have Lots Of Money To Spend, Few Strings Attached

t’s a good kind of problem to have.

During the last cataclysmic recession, California’s state government was forced to cleave billions from its budget to close an historic deficit. This year, thanks to a very unequal economic downturn and a tax code that relies on the wealthy, the state is swimming in cash, even during the pandemic. The waterline inched up even more earlier this week when the California Department of Finance announced that tax revenue is coming in $14.3 billion over an earlier forecast. And now that President Joe Biden has signed the biggest economic relief bill in U.S. history, another wave of money is on its way.

The only challenge left for state lawmakers is to figure out how to spend it all.

Before they do, they will have to answer some thorny questions: In a year of unprecedented need, whose pleas for help will be prioritized? Between the governor, who has wielded unprecedented emergency spending power since the beginning of the pandemic, and an increasingly frustrated Legislature, who will ultimately make those decisions and who will oversee the spending? And once the windfall from Uncle Sam arrives, what terms and conditions apply?

Read More [[link removed]] Daylight In COVID Economy? Unemployment Falls In Sacramento And Other California Areas

Sacramento’s economy showed signs of emerging from its COVID-19 slumber last month, as hiring perked up and the unemployment rate fell.

The Employment Development Department said Friday that unemployment in the four-county Sacramento region fell to 7.2% in February, a drop of four-tenths of a point. Employers added 9,100 jobs to regional payrolls.

Notably, the leisure and hospitality sector picked up 2,500 jobs, its first increase since November, as stay-at-home restrictions began to be eased and workers were rehired by restaurants and hotels. The healthcare and social services sector added 2,000 jobs.

Yet the latest numbers also showed how far the economy remains in the hole after a year of COVID-19 shutdowns. Sacramento’s unemployment is nearly double the 3.7% reported a year ago. The restaurant industry, for example, employs 20,000 fewer workers than it did, a decline of about 25%.

Read More [[link removed]] California-Based Data Company Harmonate Moving Headquarters To Austin

Another Silicon Valley company is moving its headquarters to Austin.

On Tuesday, data company Harmonate announced it will relocate its corporate headquarters from San Jose, California, to Austin.

"As Harmonate grows, we are doubling down on best-in-class enterprise technology quality for private capital," Harmonate CEO Kevin Walkup said in a press release. "Austin, Texas meets our need for results-driven technology talent, private capital domain expertise and a public policy environment that rewards growth. We will always be proud of our Silicon Valley inception, and we are equally energized by the fuel our new Texas home brings to the transformation of private capital data operations."

Harmonate said it is moving its headquarters to "meet demand from fund administrators, asset managers and allocators for its Conductor product." The Conductor provides "automated data extraction from general ledger systems, statements and balances, providing data normalization, creating specialized data warehouses and intelligently feeding client dashboards, reports and service legal agreements."

Read More [[link removed]] Pelosi To California Democrats: Don't Run In Newsom Recall

Speaker Nancy Pelosi on Thursday warned Democrats against running in California’s likely gubernatorial recall election, aligning herself with Gov. Gavin Newsom’s call for party unity.

“I think it’s an unnecessary notion,” Pelosi said at a press conference. “I don’t think it even rises to the level of an idea.”

Pelosi’s comments offer powerful reinforcement to Newsom’s early efforts to prevent fellow Democrats from running in a recall that’s all but certain to go before voters later this year. The governor’s team has moved aggressively to squelch intraparty strife. Pelosi threw her substantial political clout behind Newsom, suggesting national Democrats will continue mobilizing support, and predicted he would prevail.

“I think the governor will beat this quite decisively, and we’ll all help him do that,” Pelosi said.

The gubernatorial recall would put put two questions to voters: whether Newsom should be recalled, and who should replace him. If Newsom musters a majority on the first question, the menu of backup candidates becomes moot. But if voters recall Newsom and there is no fallback Democrat, a Republican could claim the governor’s office with a plurality of the vote.

Read More [[link removed]] State Lawmakers Introduce 'Broadband For All Act' To Help Close Digital Divide In California

State lawmakers on Tuesday introduced a new bill aimed at closing the digital divide in California, an equity issue that’s been repeatedly highlighted during the pandemic when internet access has been the critical link for California students forced to learn remotely.

The Broadband for All Bond Act of 2022 would ask state voters to approve a $10 billion bond that would "invest in broadband infrastructure throughout California and increase access to high-speed internet, prioritizing unserved and disadvantaged communities."

Assembly Bill (AB) 34 was authored by Assembly members Al Muratsuchi (D-Torrance), Miguel Santiago (D-Los Angeles) and Eduardo Garcia (D-Coachella). They promoted the bill as one that will not only support public education but also help California's economy by boosting access to telecommuting, telemedicine, and other critical services.

"California needs to go big and bold to close the digital divide and jumpstart the economic recovery," Assemblyman Muratsuchi said in a press release, adding, "This pandemic has highlighted enormous disparities in access to affordable, reliable, high-speed internet, especially in rural and low-income urban communities."

Read More [[link removed]] California City Debuts Universal Basic Income Program To Help Residents Survive Economic Crisis

At the height of the pandemic in the U.S., politicians from Andrew Yang to Bernie Sanders touted the benefits of some form of Universal Basic Income to help Americans through unprecedented times. The childcare tax stimulus that parents will receive as part of President Joe Biden’s American Rescue Plan is the closest the federal government has offered to universal basic income.

The City of Oakland, California, however, is seeking to help its low-income and marginalized residents with one of the nation’s largest universal basic income (UBI) programs. Mayor Libby Schaaf announced a pilot program where $6.7 million provided by philanthropic organization Blue Meridian Partners will go out to 600 families in need. Families will be selected in a random drawing based on the eligible pool of applicants, Fox KTVU reports.

The program, called Oakland Resilient Families, is a partnership between two organizations: the Family Independence Initiative and the national Mayors for a Guaranteed Income. The guaranteed income program will be offered to undocumented residents and unhoused families, SFGate.com reports.

Read More [[link removed]] New Taxes On The Digital Economy: A Closer Look At The New York Data Tax Proposal

Over the last year, state and local governments have proposed a variety of novel taxes on the digital economy, including taxes on digital advertising and social media platforms. Two factors have motivated these proposals: (1) closing budget gaps by taxing out-of-state companies and (2) addressing perceived public policy concerns with out-of-state companies profiting on information of in-state residents. The latest in this line of tax proposals has been a New York proposal to impose an excise tax on companies that collect data from New York consumers.

On Feb. 19, 2021, Sen. Liz Krueger, who chairs the Senate Finance Committee, introduced Senate Bill 4959, which would impose an excise tax on commercial data collectors. The tax is intended to be an alternative to digital advertising taxes, which are likely to be struck down as violative of the Permanent Internet Tax Freedom Act.

Read More [[link removed]] Housing Advocates Call For Higher Corporate Taxes, More Equity

A powerful group of nonprofits and housing advocates Thursday called for bold statewide reforms and higher corporate taxes to attack California’s homelessness crisis and affordable housing shortage.

The 10-year, Roadmap Home 2030 proposal, backed by the Chan Zuckerberg Initiative and charitable arms of the James Irvine and Conrad N. Hilton families, aims to end homelessness and create 1.2 million affordable homes in California. The sprawling plan — a mix of policy and community activism — calls for far more aggressive action by lawmakers and the business community. The total package could cost $17.9 billion annually.

“People have always come to California to build a better future,” said Lisa Hershey, executive director of the nonprofit Housing California. “That promise is in jeopardy.”

Housing advocates are having a moment. Silicon Valley tech companies have pledged billions of dollars to build new homes and affordable apartments in the Bay Area and California, and the state’s Project Homekey initiative has brought new resources to shelter the homeless.

The affordable housing community also is optimistic about President Joe Biden’s relief and infrastructure plans to bring additional federal resources to housing.

Read More [[link removed]] Nomination Of Rob Bonta For California Attorney General Hailed In Filipino Community

Gov. Gavin Newsom has nominated East Bay Assemblymember Rob Bonta to be the next California Attorney General. Born in the Philippines, and raised by parents who worked with Cesar Chavez, Bonta would be the first person of Asian descent to be the state's top lawyer. Andria Borba reports.

Read More [[link removed]] Energy and Climate Change New Study: California's Trailblazing Diesel Rule Saves Lives

California’s trailblazing rules have cleaned up diesel exhaust more than anywhere else in the country, reducing the estimated number of deaths the state would have otherwise seen by more than half, according to new research published today.

The policy analysis, led by scientists at the University of California and state agencies, investigated how California’s efforts to clean up trucks, buses, ships and heavy equipment stacked up against the rest of the country’s policies over a 24-year stretch.

The report, published Thursday in the journal Science, shows that the state’s rules have led to substantial improvements even as diesel fuel use has increased and California’s economy and population has grown.

“When I started doing this work 20 years ago, it just seemed daunting to think that you could make a change in air pollution. It just seems so intractable,” said study author Álvaro Alvarado, a scientist at California’s Office of Environmental Health Hazard Assessment who previously worked at the state Air Resources Board. “It is gratifying to know that your work has real impact.”

Read More [[link removed]] California Authorizes Summer Reliability Fixes Despite Concerns Over Backup Diesel Generation

California energy agencies have been moving quickly this year to prepare the grid for the summer months, after a heatwave last year forced the state's system operator to initiate rolling blackouts. In February, regulators instructed utilities to contract additional capacity for this summer; that decision resulted in around 565 MW of incremental capacity, according to Batjer, but environmental groups have raised concerns that, contrary to California's climate goals, it also opened the door for fossil fuel generation.

The most recent decision is more focused on demand-side measures including the state's new emergency load reduction program, which regulators view as "a layer of insurance" over the additional measures being taken to support the grid. But the inclusion of "prohibited resources" — like back-up diesel generation — in that program has worried some, since it would essentially compensate customers who remove themselves from the grid and turn to resources like diesel generators during emergencies.

The Bay Area Air Quality Management District also opposed the load reduction program on these grounds. There are approximately 10,000 internal combustion engines permitted in the Bay Area and the district receives around 400 engine permit applications per year, Bay Area district climate advisor Jakub Zielkiewicz told the commission on Thursday. Data centers alone currently use 1.2 GW of diesel back-up generators, many of which are located in disadvantaged communities that already have poor air quality.

Read More [[link removed]] California Oil Groups Stand With National Association's New Support For Carbon Pricing

California's two leading oil trade groups expressed support Thursday for a national industry association's sudden embrace of putting a price on carbon-dioxide emissions as part of federal efforts to slow climate change.

The California Independent Petroleum Association and the Western States Petroleum Association said in separate emails that, based on the industry's experience in the Golden State, market-based strategies offer better results than regulatory-based approaches such as mandates and drilling bans.

"California has successfully used a market-based system to reach (its) climate goals," CIPA CEO Rock Zierman wrote. He added that regulatory strategies "are usually very costly and not very effective."

Read More [[link removed]] California Senators Call On Biden To Ban The Sale Of Gas-Powered Cars In The U.S.

alifornia’s two U.S. Senators, both Democrats, are calling on President Joe Biden to ban the sale of gasoline-powered cars in the United States.

Sens. Diane Feinstein and Alex Padilla sent a letter to Biden urging him to "follow California's lead and set a date by which all new cars and passenger trucks sold be zero-emission vehicles."

Last September, California Gov. Gavin Newsom, who now faces a potential recall election, signed an executive order banning the sale of gasoline-powered cars in California by requiring all new cars and trucks being sold in the state to be zero-emission vehicles by 2035. Currently, electric vehicles account for less than 3 percent of all vehicle sales in the U.S.

"We urge your administration to take advantage of this effort and make real progress in coordination with states, like California, that share your goals to aggressively fight climate change by eliminating harmful pollution from the transportation sector," the senators wrote.

They said they “support aggressive national standards for greenhouse gas emissions, clean transportation technology, and sensible fuel economy for passenger vehicles.”

Read More [[link removed]] Study: California Can Reach A Decarbonized Electric Grid Affordably And Reliably By 2045

California can eliminate carbon emissions and without markedly increasing the cost of electricity while preserving the reliability of the state’s grid, a new analysis in the online journal Issues in Science and Technology published today shows.

The analysis, jointly sponsored by Environmental Defense Fund and Clean Air Task Force utilized advanced modeling provided by Energy & Environmental Economics (E3) Consultancy, Princeton and Stanford Universities, considered a variety of pathways the state could use to achieve to 100% carbon-free electricity. California’s grid must be decarbonized by 2045, under a law (Senate Bill 100) passed in 2018. The law requires that 100% of all retail sales of electricity come from a combination of renewable energy and carbon-zero resources. By 2030, 60% will need to come from renewable energy—excluding hydropower. The law is complemented by a 2018 Executive Order B-55-18 that seeks to move California to a carbon neutral economy by 2045. The study results fulfill the requirements of both the state law and the carbon neutrality Executive Order.

Read More [[link removed]] What's The Biggest Role For Hydrogen In A Clean Energy Economy? It Depends On Who You Ask

What role might hydrogen play in a clean energy economy? It depends on who you ask.

Hydrogen represents a clear opportunity for producers of renewable energy, according to Lin. California producers, for example, curtailed enough wind and solar energy last year to fuel 200,000 vehicles for a full year, had that energy been converted to hydrogen.

"Green hydrogen is a game changer in our fight against climate change, because it enables decarbonization of difficult to decarbonize sectors," Lin said. "Green hydrogen can convert low cost wind and solar to a flexible zero carbon fuel that can displace many fossil fuel applications."

Demand for this hydrogen already exists, Lin said, with some 100 million metric tons of hydrogen already in use in industrial applications. Most of today's hydrogen, she said, is produced by using steam methane reforming or other methods to extract hydrogen from fossil fuels. Green energy could decarbonize this existing industry by using curtailed wind and solar energy to split water into hydrogen and oxygen by way of electrolysis.

Read More [[link removed]] As EV Economics Improve, Medium- And Heavy-Duty Trucking May Be 'Next Big Frontier' For Clean Transportation

Transportation is the largest source of greenhouse gas emissions in the United States and in most states has been steadily growing, according to Helfrich. Heavy-duty trucking represents a disproportionate amount of those emissions, she said.

Heavy-duty trucks are 5% of vehicles on the road, Helfrich said, "but they account for more than 25% of overall U.S. transportation emissions." Emissions from the heavy-duty transportation sector also tend to hit low-income and communities of color particularly hard, she said, because of where shipping hubs and ports tend to be located.

"The next big frontier in decarbonization is medium- and heavy-duty vehicles," she said.

Transitioning from a combustion engine to an EV already generates cost savings over the life of a light-duty vehicle, as well as for most medium- and some heavy-duty vehicles, according to Helfrich. And "up front cost-parity is actually just around the corner, something that we would not have said too long ago" for smaller vehicles, she said.

Read More [[link removed]] Kern County, Oil, And The Fight To Keep A Blue Collar California

Kern County, California stretches over 8100 square miles in the south Central Valley, an area larger in size than some states. Over the past half century its proud blue collar economy has been built on real goods that Americans have valued: a wide range of agricultural staples, food processing and manufacturing, and most of all energy, oil and gas.

To travel to Kern today is to see the threats to this economy, and especially to the middle class jobs it has generated. It is to see a county whose officials, elected and appointed, are fighting to keep a blue collar and middle class presence, against the headwinds of global economic forces and California’s own state policies and politics.

Teresa Hitchcock, 60, is the director of the Kern Workforce Development Board, the entity charged with job training and placement of workers, especially unemployed and low income workers. Hitchcock has deep roots in the County. Her grandparents came from Oklahoma during the Dust Bowl of the 1930s, and her family has lived in Kern since.

Read More [[link removed]] Workforce Development California Lags Behind Most States In Offering Fully In-Person Instruction, New Data Shows

California is one of the slowest states to invite students back for fully in-person instruction amid the pandemic, data released Wednesday by the U.S. Department of Education shows.

State and local education officials have been pushing for a swift and safe reopening of schools across California through a combination of financial incentives, vaccine priorities and access to safety supplies. But the new data shows that much of the state remains in distance learning, even as the majority of the country’s schools have started welcoming students back to campus in some capacity.

California is among states with the highest percentage of schools that are not yet offering fully in-person instruction, according to the department of education data, which was collected Feb. 22 through March 12 of this year. About 82% of elementary schools are not open for fully in-person instruction in California, topped only by Washington (91%), Oregon (92%) and Maryland (92%).

Read More [[link removed]] What 3-Foot Social Distance Means For Reopening Of California Schools

New state and federal Covid safety guidelines that reduce the recommended minimum distance between students from 6 feet to 3 feet should make it easier for California schools to return students to classrooms full time, but most districts are not likely to make the change until the fall.

Instead, many district officials contacted by EdSource expressed reluctance to make changes to instructional models this school year because most have either reopened or plan to reopen campuses in the next few weeks.

They say the revision, which the Centers for Disease Control announced on March 19 and the California Department of Public Health adopted a day later, has come too late to redo reopening plans one more time, with two months left in school this year. Many would have to renegotiate changes to reopening plans with their unions and seek approval from their school boards.

Read More [[link removed]] Infrastructure and Housing What Makes Southern California Housing Look Cheap? Bay Area Prices

Bay Area, apparently we you a tip-of-the-cap for keeping Southern California in the “affordable” housing bracket.

Don’t get me wrong, prices in Southern California are tough to swallow for many. But amid all the chatter of a “Bay Area exodus,” try to fathom this: The price gap between the state’s two giant housing markets has grown in this odd pandemic economy.

The median sales price of an existing single-family home in Southern California’s five-county region jumped 18% in a year to a record $649,000 in February, according to the California Association of Realtors.

Then, consider that house-hunters in the nine-county Bay Area saw that region’s sales median soar 26.5% in 12 months to a record $1.15 million.

Percentage-wise, that translates to February’s southern homebuying “discount” at 44% compared with the price of a house up north. This savings benchmark was 37% at the start of the new decade, just 14 months ago! You know, just before we learned what a coronavirus was.

Read More [[link removed]] High-Speed Rail Authority Board Of Directors Adopts 2020 Business Plan

[The revised plan reaffirms] the Authority’s commitment to deliver a 171-mile Merced-Fresno-Bakersfield interim electrified service line in California’s Central Valley.

“The strategy outlined in this plan presents a clear path toward completing construction in the Central Valley,” said Authority CEO Brian Kelly. “We are committed to continued progress as an organization and look forward to working with our federal, state and local leaders to bring high-speed trains to California within this decade.”

The Authority will submit the final plan to the Legislature on or before April 15. It includes the following priorities:

Read More [[link removed]] How Los Angeles Is Confronting Its Housing Crisis

Sometimes it seems that the only solution for this country’s acute affordable housing crisis, which is especially dire in large states and their metropolitan areas, including Los Angeles, is to just erect endless rows of Type III wood barracks. As I have noted before, this housing type is pernicious, both in how it affects its surroundings and in the quality of spaces it provides, but it is often the only option for housing people with small incomes in an affordable manner.

Now there is a glimmer of hope for a new strategy, one that takes a step forward in both the quality and quantity of affordable housing. The Accessory Dwelling Unit Standard Plan Program spearheaded by the Los Angeles Department of Building and Safety foresees the erection of high-design, minimal dwellings in backyards across the city. The program builds on a law passed in 2017 that has already led to the construction of tens of thousands of these units across the state. Though it will not instantly provide the amount of necessary housing, the program will at least create the possibility of densifying the city in a reasonable and somewhat affordable manner, with designs that do a decent job providing light- and air-filled spaces while also fitting into their context.

Read More [[link removed]] Editorial and Opinion A Wealth Tax Could Sabotage California's Recovery

Feeling overtaxed and frustrated with the cost of doing business in California, some of the state’s wealthiest residents abruptly moved out of state in recent months.

Elon Musk, the world’s richest person, went to Texas, which has no income tax. Billionaire Larry Ellison, the CEO of software giant Oracle, moved to Hawaii and relocated his company headquarters to Texas.

While there may not be much sympathy for executives who are choosing to leave our beautiful state, the exodus of these jet-setters has painful consequences for all Californians.

Despite popular political slogans to the contrary, millionaires and billionaires already contribute a disproportionately large share of our state’s income tax revenue. California has long maintained the highest personal income tax rates in the nation for its wealthiest residents. The result: the top 1% of state taxpayers contribute nearly half of California’s personal income tax receipts. They provide vital funds for education, health care and social services.

Read More [[link removed]] The Real Reason Gavin Newsom Is The Target Of A Recall

Here we go again, the second recall attempt mounted by Republicans against a sitting Democratic governor of California in 18 years. Why so much use of the recall here? Simply put, it’s because, all things being equal, Republicans can’t win in a fair-and-square regular election in California.

Let’s recount the Republicans’ recent history of electoral impotence in the state.

In November, President Trump won only 34.3% of the statewide vote. With his 2016 result — 31.6% — these are the two lowest percentages of any Republican nominee for president in California since Alf Landon in 1936.

In 2010, 2014 and 2018, Republicans failed to capture a single one of the eight statewide constitutional offices. In fact, a Republican hasn’t won statewide office since 2006, 15 years ago.

In 2018, no GOP candidate even made it out of the top-two primary and into the general election in three of the eight statewide contests. In the five in which there was a Republican candidate, John Cox, running against Gavin Newsom, received the highest share of the vote — a paltry 38%. No other Republican candidate received more than 36% of the vote.

Read More [[link removed]] Life Sciences Will Buoy Austin Economy

From the ongoing coronavirus pandemic weakening the job market to a freak winter storm wiping out half of the state’s power grid, it’s clear that 2021 hasn’t quite been kind to Texas. Yet, despite these setbacks, Texas continues to thrive. Taken alone, it is the ninth largest economy — not in the United States — but the entire world. And the biopharmaceutical industry is a key driver in that success.

To begin to understand the importance that biopharmaceutical companies have on Texas, just look at the industry’s impact on jobs. The sector employs more than 38,000 individuals across a plethora of fields. Whether in STEM or finance, architecture or sales, the biopharmaceutical industry provides Texans with thousands of opportunities for high-paying jobs. In fact, the average compensation for an employee within the biopharmaceutical sector is about $40,000 higher than the average overall salary in Texas.

These impressive numbers help illustrate the direct effect that the industry has had on thousands — if not millions — of American lives. But these statistics don’t paint the full picture. To capture the full scale of benefits the biopharmaceutical industry provides, we must look beyond basic economic output calculations.

Read More [[link removed]] California Business Roundtable 1301 I Street, Sacramento, CA 95814 916.553.4093 | [[link removed]] Web Version [link removed] | Update Preferences [link removed] | Unsubscribe [link removed]