California Governor Calls on Congress to Issue Additional $1 Trillion for Local Governments

As if the Democrat’s $3 trillion coronavirus relief bill isn’t enough to make the Republican senate fall over, California Governor Gavin Newsom’s $1 trillion request will surely do it.

On Friday, California Governor Gavin Newsom, along with his specially appointed task force consisting of some of Hollywood’s top execs including Netflix Chief Content Officer Ted Sarandos, Disney’s Executive Chairman Bob Iger, and the wife of Mark Zuckerberg, Priscilla Chan, penned a letter to Congress, urging for a $1 trillion relief package to help with local government budget cuts across all US states In the letter, they presented California to be in deep peril if government aid is not delivered, suggesting that they will be forced to increase budget cuts for child care, small business support and job training.

Newscom also released a revised budget plan which will be slashing billions from essential services in order to address the extensive $54.3 billion deficit left behind by the coronavirus pandemic. As a result, the California governor is making a plea to Congress for help, so that essential government services across the US such as public education, healthcare, and safety are not compromised.

Due to California’s financial ruin stemming from the coronavirus pandemic, Newscom decided to appoint this special task force to aid in the state’s economic recovery. Because who else better understands the hardships that working class Americans are faced with than some of Hollywood’s highest paid “business leaders,” right?

It really makes one wonder, with a GDP per capita of $58,619 – which is the 8th highest GDP per capita across all US states by the way – why does the governor still need to ask Congress for a special $1 trillion aid package on behalf of all US states? Is he forgetting that California is home to some of the wealthiest celebs in the world – perhaps sending them an urging letter may be more effective. But then again, maybe not.

Information for this briefing was found via CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Silver Needs to Slow Down to Go Higher | Dan Dickson – Endeavour Silver

Silver Dips Are Getting Bought, This Is How Breakouts Start | John Feneck

Why $100 Silver Right Now Would Be a Problem | Keith Neumeyer – First Majestic

Recommended

NexGen Launches 42,000 Metre Drill Program At PCE While Expanding Mineralized Footprint

First Majestic Hits 2025 Guidance, Producing 31.1 Million Silver Equivalent Ounces, Increases Dividend

Related News

Washington State Scammed Out of Million of Dollars by Nigerian Fraudsters

Probably all of us at some point or another have received the infamous email from...

Sunday, May 24, 2020, 04:49:00 PM

Revive Therapeutics Granted FDA Approval For Phase 3 Clinical Trial For Bucillamine In COVID-19 Treatment

It’s a big day for Revive Therapeutics (CSE: RVV) (OTC: RVVTF). The company announced this...

Friday, July 31, 2020, 09:16:29 AM

Bank of Canada Sees It’s Balance Sheet Balloon To Over Half A Trillion

The Bank of Canada this morning filed with Statistics Canada its latest balance sheet data,...

Tuesday, August 4, 2020, 11:29:35 AM

Mexico Lockdown Decreases Worlds Silver Production 23%

Like many other precious metals, the production of silver has now been significantly impacted by...

Thursday, April 2, 2020, 09:45:28 PM

US Fed Is Running Into Significant Hurdles With Main Street Lending Program

The Federal Reserve had previously announced it will be providing loans for middle-sized businesses via...

Wednesday, May 20, 2020, 12:47:57 PM