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

Moon River Moly: The Davidson Moly-Copper-Tungsten PEA

Integra: The DeLamar Heap Leach Feasibility Study

Highlander Silver: The Saviour Of Bear Creek Mining

Recommended

Steadright Expects To Receive Mining License For New Copper Valley Project Within The Next Month

Goliath Resources Hits 19.13 g/t Gold Over 6.10 Metres At Surebet In Final 2025 Gold Assays

Related News

Internet of Things Inc Sees Surge In Demand For ThermalPass

Internet of Things Inc (TSXV: ITT) (OTC: INOTF) reported this morning that it is experiencing...

Friday, May 15, 2020, 10:31:21 AM

California Weighs Funding Valero Up To $200M To Keep Oil Refinery Open

California legislators are considering paying Valero Energy between $80 million and $200 million to cover...

Wednesday, September 10, 2025, 10:54:00 AM

Corporate Welfare: New Fed Measures Will Make Taxpayers the Bagholder!

I spoke with a banker last week who said to me “from my view, the...

Sunday, March 29, 2020, 10:51:46 AM

UN Suggests at Least $1 Trillion in Debt Forgiveness Needed for Developing Countries Amid Pandemic

The United Nations recently issued a statement regarding the fight against COVID-19 in developing countries....

Monday, April 27, 2020, 11:05:18 PM

Canada Sees 500,000 Mortgage Deferral Requests; 10% of Big Bank Mortgages

This morning the Canadian Bankers Association announced there has been 500,000 requests for mortgage deferrals...

Friday, April 3, 2020, 09:39:25 AM