Advocates warn now is not the time to cut programs that help the poor. California has reserves to weather a tough year, but a recession could deepen the deficit.
But, Palmer noted, the state can only draw down the rainy day fund by half in any year. The Legislative Analyst’s Office has advised the Legislature to slow down or pause program expansions before dipping into reserves.
Advocates are proposing that California mimic that federal expansion by opening up the state’s Young Child Tax Credit, currently a $1,000-a-year credit for low-income families with children under age 6, to include all children in low-income households. Last year she used some of the $4,000 in federal child tax credits on school supplies and clothes for the four children she and her boyfriend are raising, she said. With prices rising this year, she was unable to save any of that subsidy.If the credits were an annual payment, she said, it would allow her to plan for expenses, maybe use it as “a little savings account” to draw on when the children grow out of their clothes or save it for a security deposit if the family needs to move.
age 55 and older; the benefits are expected to become available late next year. Newsom vetoed a bill that would have tested an unemployment benefits program for undocumented immigrants, citing costs.The projected shortfall is the state’s first major fiscal challenge since Newsom’s office predicted a $54 billion shortfall in May 2020, when the country was in the grips of the COVID-19 pandemic.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
$24 billion projected budget deficit may test California’s resolve to grow safety net amid recessionCalifornia faces a projected deficit next year even if the U.S. avoids a recession. Despite the expected shortfall, policymakers say they’ll maintain spending on social programs though advocates are calling for more.
Leer más »
$24 Billion Projected Budget Deficit May Test California’s Resolve To Grow Safety Net Amid RecessionAdvocates warn now is not the time to cut programs that help the poor. The state has reserves to weather a tough year but a recession could deepen the deficit.
Leer más »
Silver Price Analysis: XAG/USD renews eight-month high above $24.00Silver Price Analysis: XAG/USD renews eight-month high above $24.00 – by anilpanchal7 Silver Technical Analysis Commodities XAGUSD TrendFollowing
Leer más »
Silver Price Analysis: XAG/USD seems poised to retest multi-month high, north of $24.00Silver Price Analysis: XAG/USD seems poised to retest multi-month high, north of $24.00 – by hareshmenghani Silver Commodities Technical Analysis XAGUSD
Leer más »
Marijuana Advocates, Industry 'Deeply Disappointed' After Reforms Left Out of Spending Bill'Democrats' failure and the GOP's continued resistance to any progress is out of step with voters' opinion, is bad politics, and most importantly, it is bad public policy,' said NORML's leader of excluding the SAFE Banking Act from the omnibus bill.
Leer más »
Gun control advocates, Illinois law enforcement officials take aim at assault weapons'We're not here to negotiate,' said gun rights lobbyist Todd Vandermyde.' I'm here to tell you that if house bill 5855 or anything remotely like it passes, we will see you in court.'
Leer más »