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  2. California in a jam after borrowing billions to pay ... - AOL

    www.aol.com/news/california-jam-borrowing...

    Currently California employers pay a federal unemployment insurance tax of 1.2% on the first $7,000 of wages per employee, but that will rise incrementally every year so long as California is in ...

  3. 2008–2012 California budget crisis - Wikipedia

    en.wikipedia.org/wiki/2008–2012_California...

    News reports and commentators have cited the state's various legislative supermajority requirements as a contributing factor to the state budget crisis. [23] [24] The state has a long history of supermajority requirements with a 1933 state ballot measure mandating a two-thirds supermajority to pass the state budget and California Proposition 13 (1978) mandating another two-thirds supermajority ...

  4. When will California state employees see pay raises? Here’s ...

    www.aol.com/news/california-state-employees-see...

    This includes the California Correctional Peace Officers Association, whose contract cost an estimated $1 billion and gives them an enhanced retirement benefit.

  5. What is debt forgiveness? - AOL

    www.aol.com/finance/debt-forgiveness-202301471.html

    There are several circumstances in which debt forgiveness can occur, such as government initiatives, financial hardship or debt relief programs. Lenders apply debt forgiveness in several ways ...

  6. California State Relief Administration - Wikipedia

    en.wikipedia.org/wiki/California_State_Relief...

    Close-up of relief queue on S.R.A. pay day, Arvin, CA, 1940. The California State Relief Administration (SRA), created in 1935, was the successor to the State Emergency Relief Administration (SERA), created in 1933. The agencies were responsible for distributing state and federal funds to improve conditions in California during the Great ...

  7. California state finances - Wikipedia

    en.wikipedia.org/wiki/California_state_finances

    California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...

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