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| LA seeks $1.9B bailout on top of $2.5B in state aid, amid $1B deficit and lost revenue from fires | |
| 2025-03-26 | |
| [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.
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 |
| #8 Bermuda, Bahama, How'm I gonna go and launder This money, from Ghana Come on, ready money Want to introduce ol' Sacramento We'll rob you fast, then work real slow That's when you get to know It's Shitcramento |
| Posted by: swksvolFF 2025-03-26 15:02 |
| #7 California Insurance Commissioner Took Overseas Trips at Taxpayer Expense Lara turned up at a conference in Bermuda with industry executives, rather than at a state legislative hearing, as thousands of homeowners are still waiting for help after the Los Angeles fires |
| Posted by: Skidmark 2025-03-26 14:48 |
| #6 ^Getting rid of all these icky poor people? |
| Posted by: Grom the Affective 2025-03-26 14:43 |
| #5 L.A. Council Furious: Only 4 Building Permits, While Hagerty Paid $10 Million |
| Posted by: Skidmark 2025-03-26 14:40 |
| #4 ^ Saw Ween in San Diego last February ;-) |
| Posted by: Frank G 2025-03-26 13:24 |
| #3 *not safe for work **unless you are an independent business operator in California who thinks this money will just go to the normal grease while you make up the shortfall, then dealer's choice. |
| Posted by: swksvolFF 2025-03-26 13:14 |
| #2 No and go fuck yourselves. |
| Posted by: DarthVader 2025-03-26 11:57 |
| #1 Gov. DeSantis said he returned $500M in funds to US Treasury because of 'strings attached' "It's rare that states do that because they're usually like 'gimme, gimme, gimme,' but the reality is we all have a role in trying to change the fiscal trajectory of this country," DeSantis said. "The reality is what we're doing is unsustainable." |
| Posted by: Skidmark 2025-03-26 10:28 |