News

Analysis of UK Trade with US, California After Brexit

Friday, March 05, 2021

The trade partnership between the United Kingdom and California can serve as an ideal model for how Anglo-American trade can go forward, political scientist Dr. Matt Beech said during an international virtual event hosted by the California Chamber of Commerce on Feb. 25. The event, titled California-UK After Brexit: Prospects for Partnership, was moderated by CalChamber President and CEO Allan Zaremberg, and featured a presentation by Dr. Beech where he provided analysis of what Brexit means for future trade partnerships; the pending trade deal between the U.K. and U.S.; and the trade relationship between the U.K. and California. Dr. Beech is a politica...

Legislators Urge End to Business Tax Increase

Friday, March 05, 2021

A bipartisan group of 25 California legislators led by Assemblymember Evan Low (D-Campbell) is urging Assembly Budget leadership to immediately end a tax increase enacted on California employers last year and restore the net operating loss (NOL) deduction and business incentive tax credits as part of this year’s budget. In a Feb. 26 letter to Assembly Budget Chair Phil Ting (D-San Francisco), Vice-Chair Vince Fong (R-Bakersfield) and Chair of Subcommittee 4 Wendy Carrillo (D-Los Angeles), the group of Assembly members and senators calls on budget leaders to reverse course on measures taken during a period of pandemic-induced budget uncertainty last year. No Longer Needed Wit...

State Expects to Receive Surplus Revenue, But Sees Deficits on the Horizon

Wednesday, January 13, 2021

(CalChamber) Despite enjoying a record $34 billion budget surplus and prudent reserves from burgeoning but one-time tax revenues, California budget officials expect to see fiscal deficits in the next three years, state Finance Director Keely Martin Bosler told business leaders during a Jan. 12 California Chamber of Commerce webinar. These projections mean that it is critical to maintain funding reserves if the state wishes to preserve existing programs, and it means that the Legislature should not create new funding obligations, she explained. “We can’t afford additional ongoing spending at all,” Bosler cautioned. In fact, California’s strong financial foundation during this pandemic comes from years o...

California's Export Trade Drops In Latest Numbers But Still Beats The Competition

Thursday, January 07, 2021

(Bacon Economics) California’s export trade continued to be buffeted by resurgent waves of COVID-19 both here and abroad, by ongoing trade disputes, by a weaker dollar, and by a reported shortage of shipping containers available to exporters, according to a Beacon Economics’ analysis of the latest U.S. trade statistics released today by the U.S. Census Bureau. In a month that saw the value of all U.S. merchandise exports drop by 7.5% from one year earlier, California exporters did better. Businesses in the state shipped a total of $14.238 billion in merchandise abroad in November, a nominal 3.5% decline from the $14.757 billio...

What California Exodus? Exits Fell 5.4% Last Year

Wednesday, November 18, 2020

(Orange County Register: Jonathan Lansner) Despite all the talk about a California exodus, 5.4% fewer people left last year for other states — the first decline in eight years, new census stats show. The annual state-to-state migration report shows 653,551 people left the state, the largest exit count among the states in 2019. But my trusty spreadsheet tells me this is a 37,594 drop from 691,145 in 2018. It’s the first decline in eight years and the fewest exits since 2015. Only Missouri had a bigger dip last year. I say this each year this migration data is published: Scale matters when yo...

California Aims to Phase Out New Gas-Powered Vehicles by 2035

Thursday, September 24, 2020

(CalChamber) Governor Gavin Newsom on Sept. 23 issued an executive order that directs the state to require that all new cars and passenger trucks sold within California be zero-emission vehicles (ZEV) by 2035. In response, the California Chamber of Commerce issued a statement pointing out that California needs to have standards that other states and nations can follow. It cannot do it alone. “Banning vehicles with internal combustion engines in just 14 years is unrealistic, since it presumes that consumer demand will not create a viable ZEV market by 2035,” according to CalChamber. “Unless California, along with other states and countries, supports a market for ZEVs tha...

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