Andy Cantero

California budget faces deficit: Newsom proposing spending cuts to balance the budget

Background Although the CA State government honed a budget surplus of nearly $100 billion dollars six months ago, it is now facing a budget deficit of $22.5 billion because of spiraling inflation and a weakening stock market, which is problematic given that the budget relies heavily on capital gains from CA’s wealthiest residents. Therefore, toContinue reading “California budget faces deficit: Newsom proposing spending cuts to balance the budget”

California passes new pay transparency law: What is it?

What is CA SB 1162 and who is affected by it? On September 27,2022, Gov. Newsom and the CA State Legislature passed SB 1162, which is a new state law that would require employers to disclose the pay scales for their job postings. Starting on January 1, 2023, employers with at least 15 workers willContinue reading “California passes new pay transparency law: What is it?”

US hits the debt ceiling: What it is and what will happen if it isn’t raised

What is the debt limit and why does it matter? The debt limit is the total amount of money that the US government is authorized to borrow from the treasury to meet its existing legal obligations, such as military salaries, interests on the national debt, tax refunds, and Social Security and Medicare benefits. As ofContinue reading “US hits the debt ceiling: What it is and what will happen if it isn’t raised”