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 the Market May Be Misreading Iran | David Woo

Why US Fertilizer Supply Could Matter a Lot More Now | Pat Varas – Sage Potash

Roscan Gold: Mali Discount Hits Kandiole PEA

Recommended

First Majestic Tracking Ahead Of Guidance Following Q1 Production Results

Canadian Gold Drills 19.5 g/t Gold Over 1.0 Metre At Lac Arsenault

Related News

Federal Government’s Deficit Balloons to Record $120.4 Billion As Income Support Programs Surpass Budget

It appears that Canadians are in for a challenging road ahead, as the country’s budget...

Thursday, September 10, 2020, 04:32:12 PM

Canada’s Employment Numbers Back to 1980’s Level Amid COVID-19 Pandemic

According to preliminary Canada Emergency Response Benefit (CERB) data, the number of unemployment claims since...

Tuesday, April 28, 2020, 08:16:54 AM

Biden’s Jobs and Infrastructure Plan: The Details

President Joe Biden unveiled details surrounding his highly anticipated “American Jobs Plan,” which is expected...

Wednesday, March 31, 2021, 08:59:37 PM

US and COVID-19: Under Control or Ticking Time Bomb?

Before reading this, I would like to qualify this article with sincere hope the US...

Wednesday, March 25, 2020, 05:37:57 PM

Trump’s Economic Advisor Makes Grim Prediction Regarding Q2 GDP and Unemployment Rate

Kevin Hassett, who is the White House economic advisor, is anticipating very grim GDP and...

Tuesday, April 28, 2020, 03:00:00 PM