SACRAMENTO — Gov. Gavin Newsom wants to charge California water customers up to $10 per month to help clean up contaminated water in low-income and rural areas, but he will face resistance from some legislative Democrats hesitant to impose new taxes. The Democratic governor says up to 1 million California...
Israeli Bank to Pay $195M for US Tax-Avoidance Scheme
LOS ANGELES — One of Israel's largest banks has agreed to pay $195 million for helping U.S. citizens avoid paying taxes by stashing their assets in offshore accounts. The U.S. attorney's office says Mizrahi-Tefahot Bank Ltd. and two subsidiaries acknowledged guilt Tuesday in a deferred prosecution agreement with the Department...
Valley House Delegation Joins in Omar-less Anti-Hate Vote
The Central Valley congressional delegation all supported a House resolution Thursday (March 7) condemning hate — anti-Semitism, Islamophobia, and just about all other forms. That put the likes of House GOP leader Kevin McCarthy (R-Bakersfield) and TJ Cox (D-Fresno) in step with Rep. Ilhan Omar (D-Minnesota). Approval came strongly on...
Should Google or Your Taxes Help Pay for Local News?
Whose job it is to revive local journalism in California? Our state’s elites have a clear, if dubious answer: themselves. Last year, Google announced it was putting $300 million into supporting local news. A few weeks ago, Facebook announced its own $300 million local news initiative. Philanthropists and foundations have...
Walters: Will the One-Percenters Flee California's High Taxes?
Reality – a new reality – is hitting home as Californians work on their 2018 federal income tax returns. Some are seeing smaller federal tax bites and bigger refunds, thanks to a more generous standard deduction in the tax overhaul that a Republican Congress and President Donald Trump enacted in...
California Pot Taxes Lag as Illegal Market Flourishes
LOS ANGELES — Deep in Gov. Gavin Newsom's new budget is a figure that says a lot about California's shaky legal marijuana market: The state is expecting a lot less cash from cannabis taxes. The Democrat's proposed spending plan, released Thursday, projects the state will bank $355 million in marijuana...
How Will Newsom Lead California? He Explains.
In this 6-minute preview of his plans for California, Gov-elect Gavin Newsom explains why he's a risk-taker and how he plans to fix what ails the state. In the video interview above, Newsom talks about how he will lead California. He covers healthcare, his relationship with President Donald Trump, climate...
California’s Cannabis Chief Regulator: It ‘Costs Businesses’
Could too many regulations for the burgeoning cannabis industry deter entry into the market? That's the question the state agency in charge of regulating cannabis grapples with. “We’re not pleasing anybody with our regs, whether it’s the industry, the city or the police chiefs, not everybody is happy,” Lori Ajax,...
Fresno Council Says 'No' to Utility Hikes, For Now
Any rate hikes for Fresno utility customers will wait. The Fresno City Council rejected starting a process Thursday that would raise the bill for water, sewer and trash by about $22 through 2023 to a base rate of $118. Council president Esmeralda Soria led the way during the debate, unhappy...
China Orders 'X-Men' Star Bingbing to Pay Massive Tax Fine
BEIJING — Chinese tax authorities have ordered "X-Men" star Fan Bingbing and companies she represents to pay taxes and penalties totaling $130 million, ending speculation over the fate of one of the country's highest-profile entertainers three months after she disappeared from public view. Of the total amount, Fan is being...