|
2025-03-26 Home Front: Politix
|
|
LA seeks $1.9B bailout on top of $2.5B in state aid, amid $1B deficit and lost revenue from fires
|
[JustTheNews] Gov. Newsom’s order granting extensions for mandatory ethics disclosures of behested payments in Los Angeles County means it could be easier for corruption to go undetected amid an influx of cash.
(The Center Square) - Los Angeles is seeking a $1.9 billion state bailout after receiving $2.5 billion in state aid thus far.
Los Angeles faces a $1 billion deficit due to spending vastly outpacing revenues — issues that predated the fire and which City Controller Kenneth Mejia has long said are making the city go “broke.”
Much of that funding is set to go toward existing city issues, such as ballooning liability payouts, with $38 million requested to cover revenue lost from the fires.
California Gov. Gavin Newsom’s order granting extensions for mandatory ethics disclosures of behested payments or conflicts of interest for government officials in Los Angeles County means it could be easier for corruption to go undetected amid an influx of cash.
The area’s state legislators sent a joint letter to Assembly Budget Chair Jesse Gabriel, D-Encino, outlining their funding request.
| Longish list of details can be read at the link for those interested. |
The legislators are looking for $15 million for emergency housing vouchers for displaced residents and $75.5 million for the California Governor’s Office of Emergency Services to “expedite CalOES processing of FEMA Public Assistance from previous emergencies, particularly COVID-19.”
The last request suggests CalOES has significant unspent funding due to its inability to process paperwork and that the $75.5 million may be required to be spent on processing labor to unlock already allocated, but paperwork-protected funds.
“These amounts reflect the City’s ongoing need for support in the areas of site cleanup, housing assistance, public safety, infrastructure restoration and economic support for impacted communities,” concluded the legislators. “These investments are essential not only for immediate relief but also for fostering the City’s long-term stability and preparedness.”
With the state’s revenue highly reliant on capital gains from the stock market, ongoing market volatility could threaten the state’s proposed $322 billion budget, which includes a $7 billion reserve withdrawal. This revenue volatility could spell trouble for the state’s ability to bail out Los Angeles, as broad budget cuts may be necessary. 
|
Posted by Skidmark 2025-03-26 10:18||
||
Front Page|| [11194 views ]
Top
|
|
Posted by Skidmark 2025-03-26 10:28||
2025-03-26 10:28||
Front Page
Top
|
|
Posted by DarthVader 2025-03-26 11:57||
2025-03-26 11:57||
Front Page
Top
|
|
Posted by swksvolFF 2025-03-26 13:14||
2025-03-26 13:14||
Front Page
Top
|
|
Posted by Frank G 2025-03-26 13:24||
2025-03-26 13:24||
Front Page
Top
|
|
Posted by Skidmark 2025-03-26 14:40||
2025-03-26 14:40||
Front Page
Top
|
|
Posted by Grom the Affective 2025-03-26 14:43||
2025-03-26 14:43||
Front Page
Top
|
|
Posted by Skidmark 2025-03-26 14:48||
2025-03-26 14:48||
Front Page
Top
|
|
Posted by swksvolFF 2025-03-26 15:02||
2025-03-26 15:02||
Front Page
Top
|
|
12:04 Abu Uluque
12:03 Difar Dave
12:03 Difar Dave
12:03 Difar Dave
11:50 Abu Uluque
11:49 Frank G
11:16 Melancholic
11:06 Frank G
11:05 Melancholic
11:01 Melancholic
11:00 Skidmark
10:58 Frank G
10:56 Silentbrick
10:51 Thruse Grundy9113
10:50 DarthVader
10:49 DarthVader
10:43 Skidmark
10:41 alanc
10:33 badanov
10:33 Procopius2k
10:30 Procopius2k
10:23 Procopius2k
10:21 badanov
10:19 badanov
|
