Posts From Chris Reed
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Secure Choice retirement program up against powerful federal law
An unprecedented state law meant to create 401(k)-style retirement accounts for millions of private-sector workers in California now faces a daunting obstacle to ever being implemented: one of the most powerful federal laws on the books. Under the state law
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Wells Fargo’s huge scandal defies tidy resolution
San Francisco-based banking giant Wells Fargo continues to struggle to get past the worst scandal in its history. The company – which has a market value of $265 billion and nearly 270,000 employees in all 50 states – was fined $185 million
Read MoreWill Democrats in Legislature pressure Gov. Brown to increase state spending?
Will progressive lawmakers challenge Gov. Jerry Brown over his decision to dash their big dreams for the 2017-18 fiscal year? Or will they acquiesce as they mostly have in recent months of May after Brown released revised budgets without money for
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Pressure building on Napolitano over dubious UC testimony
Pressure is building on University of California President Janet Napolitano after the San Francisco Chronicle obtained two batches of official documents that appeared to show Napolitano was untruthful in her testimony at a joint legislative oversight hearing May 2 at
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Expert questions tax agency’s push for space launch taxes
One of the world’s leading experts on the commercialization of space questions the California Franchise Tax Board’s move to make the Golden State the first to impose state taxes on private space launch and tourism firms. John Logsdon, co-founder of
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Trump tax plan may not be easy sell to some state Republicans
President Trump’s release last week of a one-page list of his principles for tax reform reflected Treasury Secretary Steven Mnuchin’s longstanding advocacy of a much-simpler tax code with sharply lower rates. Because among the deductions Mnuchin seeks to zero out
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Audit Report: University of California hid $175 million while seeking tuition hike
University of California President Janet Napolitano could face her roughest week in nearly four years as leader of the state’s flagship college system as lawmakers react sharply to a new audit that says the UC Office of the President hid
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Feds: Household making $105K in San Francisco is ‘low income’
San Francisco and San Mateo counties in the Bay Area have passed a grim milestone reflecting extreme housing costs: The federal government now considers households in the counties which make $100,000 a year to be “low income,” making them eligible
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Bullet train roundup: CEO out as project faces lawsuit and federal threats
The chief executive of the California High-Speed Rail Authority – former Caltrans director Jeff Morales – is resigning in June from the agency after five years overseeing the state’s $64 billion bullet train project. The announcement Friday prompted Gov. Jerry Brown and
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State agency loses again in bid to expand clout of collective bargaining
For the second time in five years, state courts have rejected attempts by the California Public Employees Relations Board to sharply expand the sweep and power of state collective bargaining laws. Last week, a three-judge panel of the fourth state
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