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

Silver Is a Wild Animal, Gold Heads for $6,000 in 2026 | Craig Hemke

Is This the End of the Gold and Silver Rally? | Peter Grandich

Why Gold And Silver Stay High Even After Rate Cuts | Todd Bubba Horwitz

Recommended

Antimony Resources Reports Massive Stibnite Mineralization Over 25 Metres At Marcus (West) Zone

Total Metals Launches 5,500 Metre Drill Program At ElectroLode Property

Related News

US Coronavirus Cases Surpass Daily Record Once Again, 67,700 New Infections Reported in One Day

The US has once again hit a grim milestone in new coronavirus cases, with the...

Thursday, July 16, 2020, 07:04:00 PM

EU Leaders Finally Agree on $858 Billion Bailout, $1.3 Trillion Budget to Rebuild Coronavirus-Stricken European Economy

Since the beginning of the coronavirus pandemic, the European Union has been dealing with a...

Wednesday, July 22, 2020, 06:54:00 PM

Market Movers: Canadian Small Cap COVID-19 Stocks Take A Beating

COVID-19 related stocks are all the rage this morning, however it appears to be for...

Monday, November 9, 2020, 10:56:07 AM

Not a ‘Skittles ban’: California Sets Precedent with Ban on Four Common Food Additives

California has become the first state in the United States to enact a comprehensive ban...

Wednesday, October 11, 2023, 03:39:00 PM

Consumer Confidence Falls to Lowest Level since March 2017; Dropping 9.5%

This morning the The Conference Board announced the Consumer Confidence Index declined sharply dropping 9.5%...

Tuesday, March 31, 2020, 01:03:19 PM