2020 economic downturn – Page 2

Bill That Removes Loan Penalties From Retirement Plans Signed By Gov. Newsom

September 15, 2020 5:18 pm

During the weekend, Governor Gavin Newsom signed a bill that would align a part of state tax law to the Coronavirus Aid, Relief, and Economic Security (CARES) Act, removing all penalties from loans off of employer-sponsored retirement plans. Assembly Bill...

Gov. Newsom Signs Three Small Business Related Bills

September 10, 2020 2:12 amSeptember 9, 2020 9:17 pm

On Wednesday, Governor Gavin Newsom signed 3 bills into law aimed at assisting small businesses and construction in California. Three bills signed by Gov. Newsom Senate Bill 1447, authored by Senator Steven Bradford (D-Gardena), was the first bill signed on...

Los Angeles Announces Fiscal Emergency, Plans To Furlough Over 15,000 City Workers

September 3, 2020 3:10 pmSeptember 4, 2020 2:47 pm

On Wednesday, the city of Los Angeles declared a fiscal emergency, with the LA City Council announcing the furloughs of more than 15,000 city workers to help fill in the $400 million deficit the city is now facing. Over 15,000...

Debt Collector Licensing Bill Passes Assembly Banking and Finance Committee

August 13, 2020 4:11 pmAugust 13, 2020 2:49 pm

On Wednesday, a bill that would require the licensing of debt collectors and debt buyers passed the Assembly Banking and Finance Committee. SB 908 moves up through the Assembly Senate Bill 908, authored by Senator Bob Wieckowski (D-Fremont), would have...

Los Angeles County Rent Relief Program Applicants Begin August 17th

August 11, 2020 7:25 pm

On Monday, Los Angeles County officials announced that a $100 million rent relief fund program will begin collecting applications on August 17th. The program, funded by the recent $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act block of...

Governor Newsom: President Trump’s Executive Order Would Decimate California’s Budget

August 11, 2020 2:39 pmAugust 11, 2020 2:45 pm

On Monday, Governor Newsom announced that President Donald Trump’s stimulus Executive Order would devastate the California budget by the state having to pay unemployed Californians $700 million a week out of budget. Governor Newsom balks at paying Californians an extra...

Assembly Bill To Raise Taxes For Higher Income Earners Faces Tough Legislative Votes

August 3, 2020 1:01 pmAugust 4, 2020 8:09 pm

On Monday, a recently amended bill that would increase taxes on small businesses and taxpayers making over $1 million of taxable income a year began it’s month-long fight to be passed and approved by the end of the legislative session...