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U.S. rejects California health-care copayment plan
Feb 08, 2012 12:11 EST
SAN FRANCISCO (Reuters) - The government blocked an effort on Monday by California to reduce its health-care spending by requiring those enrolled in its Medi-Cal program for the needy to make copayments for medical services.
States to pay unemployment bills, taxes could rise
Sep 08, 2011 15:28 EDT
WASHINGTON/CHICAGO (Reuters) - U.S. states will start sending more than $1 billion to the federal government in coming weeks for loans used to pay unemployment benefits and some may have to raise business tax bills to cover the charges.
States have no place to hide from debt crisis
Jul 25, 2011 17:38 EDT
MIAMI (Reuters) - State governments across America know the stakes for them are high in Washington's gathering debt-ceiling crisis but are finding few ways to hedge against the big losses they know are coming.
Revised California budget in works as revenue rises
May 09, 2011 20:38 EDT
SAN FRANCISCO (Reuters) - California Governor Jerry Brown next week unveils a revised budget, and an unexpected jump in tax receipts may ease the state's financial pain but throw a wrench into his plan for extending tax increases.
Calif. high court upholds Schwarzenegger furloughs
Oct 04, 2010 17:53 EDT
Calif. Supreme Court rules in favor of Schwarzenegger's furloughs of state government workers. The California Supreme Court's ruling Monday upholding Gov. Arnold Schwarzenegger's order to furlough state workers ends an 18-month budget distraction and puts more pressure on public employee unions to negotiate benefit rollbacks with the administration.
California delays $3 bln for local governments
Aug 25, 2010 16:28 EDT
SAN FRANCISCO (Reuters) - Local governments in California are scrambling to respond to the state government's decision to delay nearly $3 billion in funds for them, with some tapping reserves to keep programs fully funded.
California to delay payments sooner than expected
Aug 23, 2010 21:11 EDT
California to delay payments to schools, counties a month sooner than expected. Gov. Arnold Schwarzenegger, the state controller and treasurer decided Monday to delay $2.9 billion a month in payments to school districts and counties sooner than expected so the state can meet debt and pension obligations.
Californians' income sees 1st decline since WWII
Aug 11, 2010 18:27 EDT
Californians' income drops 2.5 percent in 2009, marking first decline since World War II. The personal income of California residents declined last year for the first time since World War II, state officials said Wednesday.
California budget battle looms
May 12, 2010 15:14 EDT
SAN FRANCISCO (Reuters) - Californian farmer Joseph Pezzini says orders for his artichokes are rising.
California debt rating cut as cash crunch looms
Jan 13, 2010 20:06 EST
SAN FRANCISCO (Reuters) - California's main debt rating was cut on Wednesday by Standard & Poor's, which said the government of the most populous U.S. state could nearly run out of cash in March -- and another rating cut might follow.
Standard & Poor's lowers ratings on Calif. debt
Jan 13, 2010 17:14 EST
Citing $20B deficit, S&P lowers Calif. credit ratings, which raises state's borrowing costs. A major credit-rating agency lowered California's debt rating Wednesday, putting pressure on Gov. Arnold Schwarzenegger and lawmakers to start tackling the state's $20 billion deficit.
California revenues lag, underscore budget woes
Dec 16, 2009 17:51 EST
SAN FRANCISCO (Reuters) - California's revenues since the start of its fiscal year are trailing estimates by more than $1 billion, according to the state's November revenue report, which comes as Governor Arnold Schwarzenegger wrestles with crafting a balanced state spending plan.
Schwarzenegger's budget director to step down
Nov 03, 2009 08:59 EST
Schwarzenegger's budget director to step down, with Calif. likely facing another large deficit. Gov. Arnold Schwarzenegger's finance director is stepping down after four years, leaving the administration to fill a key vacancy as the state faces what is expected to be another multibillion dollar deficit.
Cost to fight wildfires adds up quickly for Calif.
Sep 01, 2009 19:04 EDT
Wildfire costs straining Calif. firefighting budget; Schwarzenegger seeks federal help. The costs to fight the wildfires raging through California are adding up quickly for the cash-strapped state.
Calif. tax commission faces tricky balancing act
Jul 31, 2009 13:49 EDT
California commission faces tricky balancing act in trying to restructure state's tax system. Coming up with a simple, fair tax system that can help California prevent more multibillion-dollar budget deficits is no easy feat, yet that's the task of a commission attempting to lead the state out of its boom-and-bust cycles.
Calif. tax commission faces tricky balancing act
Jul 31, 2009 03:15 EDT
California commission faces tricky balancing act in trying to restructure state's tax system. Coming up with a simple, fair tax system that can help California prevent more multibillion-dollar budget deficits is no easy feat, yet that's the task of a commission attempting to lead the state out of its boom-and-bust cycles.
Calif. officials concerned about new budget woes
Jul 25, 2009 16:13 EDT
California has budget deal in place, but officials concerned fiscal woes may not be over. California officials are warily awaiting the next round of state revenue figures, concerned that their latest budget-balancing efforts may not be enough to end a seemingly endless stream of deficits.
California kills offshore oil lease project
Jul 24, 2009 20:54 EDT
LOS ANGELES (Reuters) - The California state assembly killed a chance on Friday for the state's first new offshore oil drilling lease since 1969, after the idea narrowly passed the senate earlier in the day.
California budget hits snag over prisoner releases
Jul 22, 2009 15:12 EDT
SAN FRANCISCO (Reuters) - Republican lawmakers in California have threatened to scuttle a budget deal secured by the governor and top lawmakers over a plan for prison spending cuts, but Democrats said on Wednesday a vote on the agreement will take place this week.
IOUs shore up California's cash
Jul 10, 2009 18:41 EDT
SAN FRANCISCO (Reuters) - California has enough cash to pay its top bills, including payments to bondholders, through September thanks to IOUs it has been issuing, but it may not be able to make payments in October due to the state's budget crisis, the state controller's office said on Friday.
