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

Why Industrial Demand Is Changing the Silver Market | David Morgan

Gold and Silver Delivery Is Exposing the Paper Market | Andy Schectman

Recommended

Nations Royalty Names Derrick Pattenden As President And CEO

First Phosphate Receives US$530,000 Pre-Payment Under Offtake Agreement

Related News

Gold Rallies upto 7% as Central Banks Around the Globe Continue to Print their Way Out of the Coronapocalypse

This morning Gold has rallied approaching 7 year highs. We can see Gold is pushing...

Tuesday, March 24, 2020, 09:41:47 AM

Almost Half of Canadians Said They Were Insolvent BEFORE The Shutdown

In a survey completed by MNP on March 5th 2020, they found 29% of Canadians...

Thursday, April 2, 2020, 09:25:04 PM

California Files Legal Challenge Against Trump Tariffs

California has filed a lawsuit against the Trump administration in what marks the first time...

Sunday, April 20, 2025, 11:25:00 AM

IMF Projects Longer Path to Global Economic Recovery Amid Pandemic

Although the global economy has shown signs of an optimistic recovery over the summer months,...

Wednesday, October 14, 2020, 01:03:00 PM

Market Movers: Sona Nanotech Moves On COVID-19 Antigen Test Validation

Sona Nanotech (CSE: SONA) is one of the largest movers and shakers of the last...

Monday, July 6, 2020, 02:24:37 PM