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☆ Oregon businesses are spending millions to oppose a ballot measure that would give every resident a $1,600-a-year basic income
▼ + stars: | 2024-09-29 | by ( Kenneth Niemeyer | Katie Balevic | ) www.businessinsider.com time to read: +6 min

Oregon residents will soon vote on a corporate tax increase to give them a universal basic income. AdvertisementOregon businesses are spending big to oppose a ballot measure that would tax corporations and give residents $1,600 a year in a rebate program that is similar to a universal basic income. They say the ballot measure is riddled with problems and could crater the state's budget. Whether the state adopts Oregon Measure 118, however, will ultimately be up to the voters. "We are super committed in instituting some degree of corporate tax justice."

Persons: —, Tina Kotek, Chris Allanach, Antonio Gisbert, Gisbert Organizations: Republicans, Service, Oregon, Oregon Rebate PAC, Democratic Gov, Willamette, Democratic, state's Senate Democratic Leadership Fund, Republican Party, The, The Oregon Legislative Revenue Office, General Fund, UBI Universal, Alaska ., Alaska Permanent Fund, Business Locations: Oregon, California, The Oregon, United States, Alaska

The program had marked a shift in Denver’s strategy of housing migrants in massive temporary shelters to providing individual resources. About 860 people are currently part of the program, which offers six months of housing, job training, language instruction and legal support in filing asylum claims, according to city officials. In addition to ending the program, the city is closing its remaining migrant shelter at the end of the month, Jon Ewing, a city spokesperson who manages communications for Denver’s newcomer response, said Tuesday. Denver, Chicago and New York have had to adapt over the past two years as their migrant populations have grown since Texas Gov. Ewing said Denver is “enormously proud” of its asylum-seeker resource program and its broader migrant response.

Persons: Jon Ewing, Greg Abbott, Ewing, “ It’s, That’s, ” Ewing, “, ”, they’re, Joe Biden, Biden Organizations: Denver, Biden, Denver Asylum Seekers, Texas Gov, Democratic, Customs, Protection, Border Patrol, Patrol Locations: Denver, Chicago, New York, Texas, United States

☆ These 10 U.S. states have America’s best economies in 2024
▼ + stars: | 2024-07-18 | by ( Scott Cohn | ) www.cnbc.com time to read: +13 min

We consider economic growth and job growth. We measure the breadth of each state's economy by looking at how many major corporations are headquartered there. Delaware's economy turned in a lackluster performance in 2023 — the only state economy to shrink last year. Mario Tama | Getty ImagesThe Grand Canyon State's surging chip sector is delivering many dividends, including strong job growth and a healthy housing market. But he noted that construction employment grew at a healthy pace last year, evidence that the state economy still has steam left.

Persons: Dupont De Nemours, Ethan Miller, Kevin C, George Frey, Mark Knold, Knold, Zions, Mario Tama, Katie Hobbs, Allison Joyce, they've, Andrew Berger, Gross, Berger, Nina Dietzel, Lawrence Kessler, Kessler, Brandon Bell, Joe Raedle Organizations: Companies, Business, Delaware, Istock, Getty, Fortune, Census, Commerce Department, Aaa, Direct Investment, Corporate, Gem State, Micron Technology, Lamb Weston Holdings, Silver State, Pew, Major Corporations, Vegas Sands, MGM Resorts, Benz, Cox, Mercedes, Nestlé, Purina, Adidas, Georgia Department of Economic, U.S . Commerce Department, Assurant, Intercontinental, Contractors, Bloomberg, Utah's Department of Workforce Services, Arizona Workers, Gov, Democrat, Major, Technology, North, Health, Employers, North Carolina Department of Commerce, Corporate Headquarters, Bank of America, Duke Energy, Tennessee, University of Tennessee, The Volunteer State, FedEx, Texas Employees, Lone Star State, Entrepreneurship, Oracle, Tesla, Amerant Locations: States, Wilmington, New Castle County , Delaware, Delaware, Incyte, Idaho, Boise , Idaho, USA, Nevada, Las Vegas, Las Vegas , Nevada, Southern California, Vegas, Georgia, Atlanta , Georgia, Peach, Utah, Provo , Utah, U.S, Beehive, Buckeye , Arizona, Arizona, North Carolina, Wilmington , North Carolina, Carolina, Tennessee Nashville , Tennessee, Luling , Texas, The Texas, North Dakota, California, Texas, Florida, Sunrise , Florida

☆ These 10 U.S. states have America’s worst economies in 2024
▼ + stars: | 2024-07-18 | by ( Scott Cohn | ) www.cnbc.com time to read: +12 min

That is why CNBC looks at state economies in ranking America's Top States for Business. We consider economic growth and job growth. We measure the breadth of each state's economy by looking at how many major corporations are headquartered there. Some states are at the top of their economic game — home to America's 10 best state economies. JB Pritzker, and all the major rating agencies have the state in their "A" categories for the first time in years.

Persons: Phil Scott, Jobs, J.B . Pritzker, Erin Hooley, JB Pritzker, Asplundh, Michael G, Janet Mills, Mills, Gina Raimondo, Joe Biden, Anna Moneymaker, Gina Raimondo —, —, Rhode Island's, Luke Sharrett, Ed Zurga, Bryan Tarnowski, Hurricane Katrina, New Hampshire Jada, Patrick T, Fallon, Hawaii's, Nature, Spencer Platt Organizations: CNBC, Business, Republican Gov, Direct Investment, Illinois, Illinois Illinois Gov, Thompson Center, Tribune, Service, Democratic Gov, Major Corporations, GE Healthcare Technologies, Mondelez, Seamans, Portland Press Herald, Getty, National Association of State, Officers, Pew, Major Corporation, IDEXX, Rhode, Semiconductors, America, White, U.S . Commerce, Major, CVS Health, Hasbro, Kentucky, Bloomberg, Bluegrass State, Federal Housing Finance Agency, Kansas Carpenters, Glenn Eagles, Louisiana Homes, Treme, Louisiana State University, Hurricane, Pool Corporation, Granite State, U.S . Chamber, Commerce, New Hampshire Department, Labor, The New Hampshire Tech Alliance, Afp, Aloha State Locations: U.S, States, Vermont, Illinois Illinois, Chicago, Lincoln, Illinois, Maine, Rhode Island WASHINGTON, DC, Washington , DC, Louisville , Kentucky, Bluegrass, Kentucky, Kansas, Kansas City , Kansas, Sunflower, Claiborne, New Orleans , Louisiana, New Orleans, New Hampshire, Granite, The, Hawaii, Maui, Lahaina , Hawaii, Mississippi, Biloxi , Mississippi

☆ Hot utility stock NextEra falls nearly 5% after announcing plan to sell $2 billion in equity units
▼ + stars: | 2024-06-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

NextEra Energy stock fell nearly 5% in early trading Tuesday after announcing a plan to sell $2 billion in equity units to finance power projects as electricity demand rises and to pay back debt. The Florida-based power company, which operates the largest portfolio of renewable energy in the U.S., will issue equity units for $50, which will serve as a contract to purchase shares no later than June 1, 2027. The utility sector has gained about 8.5% over the past three months, outpacing the 6.2% gain by the S&P 500. But the utility space has cooled off over the past month, with NextEra falling 5% over that period. About 71% of Wall Street analysts rate NextEra as the equivalent of buy, while 24% have put a hold on the stock and 4.8% have recommended that investors sell.

Persons: NextEra, Goldman Sachs, Goldman, Carly Davenport Organizations: Energy, Energy Capital Holdings, UBS, Wall Street Locations: Florida, U.S

☆ Congress cut funds cities need to handle the migrant surge
▼ + stars: | 2024-04-11 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

Congress last month approved the fiscal year 2024 funding level for FEMA’s Shelter and Services Program in the federal funding package, nearly six months into the fiscal year. Rep. Joaquin Castro, a Democrat who represents San Antonio, said that immigration is a federal responsibility. “Funding from the Shelter and Services Program (SSP) has helped Catholic Charities and other groups in my city of San Antonio offer basic migrant services without straining local resources. “Due to the substantial demand that exceeds the limited SSP program funding authorized by Congress, not all requests can be fulfilled,” a DHS spokesperson told CNN. The Migrant Resource Center opened in July 2022 as a temporary place for migrants traveling through San Antonio.

Persons: of San Antonio doesn’t, Biden, Joaquin Castro, ”, of San Antonio, Antonio Fernandez, Fernandez, Greg Abbott, Mark Ritacco, John Giles, Giles, Ron Nirenberg, he’s, Joe Biden, Carlos Kosienski, Priscilla Alvarez Organizations: CNN, of San, Resource Center, Federal Emergency Management Agency, Democrat, “, Shelter, Services, Catholic Charities, Catholic, San, FEMA, GOP Texas Gov, Democratic, Republicans, Department of Homeland Security, Congress, National Association of Counties, US Customs, Protection, US, Mayors, Migrant Resource Center Locations: San Antonio, Washington, DC, Cities, Mexico, Atlanta ; Chicago ; New York City, Albuquerque , New Mexico, Laredo , Texas, Riverside County , California, Pima County , Arizona, Mesa , Arizona, Texas

☆ Opinion | No One Is Above the Law, Except, Apparently, Donald Trump
▼ + stars: | 2024-03-26 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +1 min

As the week began, it looked as though Donald Trump would finally face consequences — or at least, a consequence — for his actions. Last month, a New York state trial court found the former president liable for inflating his net worth and misleading banks and insurers in order to receive favorable loans for his various businesses and commercial enterprises. The judge, Arthur F. Engoron, imposed a penalty of $454 million, to be paid into the state’s general fund. Letitia James, New York’s attorney general, gave Trump a 30-day grace period to secure bond as he pursued appeal of the judgment. And even if he could, Trump would need to pledge at least as much in collateral to the company.

Persons: Donald Trump, Arthur F, Letitia James, “, ” James, Trump, Kalief Browder —, — Organizations: Trump Locations: New York, New

☆ Going once, going twice: How Trump's cash and properties would be garnished and auctioned to pay his NY fraud debt
▼ + stars: | 2024-03-23 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

AG Letitia James plans to go after Trump's cash and property if he doesn't pay his civil fraud debt. Is the ball in Letitia James' court? "The burden is on Letitia James to find Trump's assets" and decide what she wants garnished or auctioned, he said. D'Orazio predicts James would first target the cash that Trump and the Trump Organization keep in New York-registered bank accounts. He would then remit $95 million to the Attorney General's Office, and that would go toward paying Trump's judgment.

Persons: Letitia James, —, padlocks, Donald Trump's, Trump, James, Bernard D'Orazio, D'Orazio, — James, Mark, we're, doesn't, It's, she'll, Arthur Engoron, Jeff Greenberg, — Trump Organizations: Service, Trump, Trump Plaza, New, Social, Trump —, GOP, AP, Trump Organization, Radio City Music Hall, Forbes, New York, Fire Locations: New York, New York City, Manhattan, New, Westchester County, Trump, Americas

New Mexico's Legislature has approved a bill aimed at reducing pollution from cars and trucks by creating financial incentives for transportation fuel producers and importers to lower the carbon intensity of their products. The bill calls for a reduction in the intensity of greenhouse gas emissions for transportation fuels used in the state — of 20% by 2030 and 30% by 2040. It would require producers of high-polluting fuels to buy credits from producers and importers of low-carbon fuels. The transportation sector is the second largest source of greenhouse gas emissions in New Mexico behind the oil and natural gas industry. “I am concerned about what this bill will do to the price of transportation fuel," Sen. Greg Nibert of Roswell said during Tuesday's Senate floor debate.

Persons: Michelle Lujan Grisham, State Sen, Mimi Stewart, Albuquerque, “, Sen, Greg Nibert, Roswell, Bill cosponsor, Kristina Ortez, ”, Greg Baca, Belen, we're Organizations: Democratic Gov, Department, Democratic, Chevron, New Mexicans, ” Republican Locations: California , Oregon, Washington, Mexico, New Mexico, State, Tuesday's, Taos, ”

Michelle Lujan Grisham has advocated for a more robust spending package, a 10% annual spending increase that would shore up housing opportunities, childhood literacy and health care access. Senate budget amendments apply $75 million in state matching funds to the effort. Under another $1.5 million budget provision, New Mexico would for the first time help compensate landowners and agricultural producers when wolves are confirmed to have killed livestock or working animals. The fund underwrites an array of conservation programs at state natural resources agencies, from soil enhancement programs in agriculture to conservation of threatened and big-game species. The Legislature's budget bill would place $512 million in the trust.

Persons: Michelle Lujan Grisham, Sen, George Muñoz, ” Muñoz, Biden, ”, Nathan Small Organizations: SANTA FE, Texas, New, New Mexico Gov, Democratic, Gallup, ” Locations: SANTA, New Mexico, Las Cruces

Alabama is one of few states without a state lottery, after lawmakers in 1999 rejected a proposal to allow one. The gambling bill, now backed by Republican Gov. Supporters pitched the bill as a means to crack down on small electronic gambling machines that have cropped up in convenience stores and small gambling halls. The controversial bill to enact absentee ballot restrictions would make it a misdemeanor to deliver someone else's absentee completed ballot or distribute an absentee ballot application prefilled with someone else's name. Supporters say the change is needed to combat voter fraud, but opponents say it would discourage voting by absentee ballot.

Persons: ”, Andy Whitt, Kay Ivey, Chris Blackshear, Republican Sen, Garlan Gudger, Gudger, Tari Williams, Sen, Linda Coleman Madison Organizations: Alabama, Republican, Republican Gov, Democratic, ” Republican, Indians, Poarch, Confederate Locations: MONTGOMERY, Ala, . Alabama, Mississippi, Alabama, Tennessee, Georgia, Birmingham

(AP) — Conservative lawmakers who want to intertwine religion with school curriculum in Republican-dominated Nebraska presented a slew of bills Monday to the state Legislature’s education committee. Another measure would change school funding to loop in private school tuition while forbidding the state from interfering in private schools’ curriculum or beliefs. The bill introduced last year was among those that stalled as conservatives focused on passing a bill to allow taxpayer money to be used to fund private school scholarships. Others argued Erdman’s bill would hurt funding for rural school districts like his own, which has fewer than 350 students. Under the bill, out-of-state teachers could gain Nebraska certification by taking a knowledge-testing exam they must pass.

Persons: LINCOLN, Sen, Dave Murman, Steve Erdman’s, Erdman, ” Ron Cunningham, Lincoln, Loren Lippincott’s, “, Omaha Sen, Kathleen Kauth —, Jim Pillen Organizations: — Conservative, Republican, Nebraska Legislature’s, Democratic, Omaha, Gov Locations: Neb, Nebraska, Glenvil, Arizona

Lujan Grisham said she'll ask the Legislature to set aside $500 million to underwrite acquisition of treated water. “We're going to turn water — this waste, which is a problem — into a commodity,” Lujan Grisham said at the conference. The state's oil wells draw out far more water than oil, by several multiples, according to oil field regulators. “Creating a state reserve of treated water for renewable energy projects merits serious consideration in the upcoming session,” Wirth said. New Mexico state government is navigating an unprecedented financial windfall from record setting oil production centered in the Permian Basin that extends across southeastern New Mexico and portions of western Texas.

Persons: Michelle Lujan Grisham, Lujan Grisham, she'll, “ We're, ” Lujan Grisham, “, James Kenney, ” Kenney, Peter Wirth of, Peter Wirth of Santa Fe, ” Wirth, Larry Scott, Hobbs Organizations: SANTA FE, —, Democratic, Gov, Dubai, United Arab, Tax, Fund, U.S, Lawmakers, Democratic Party, Republican Locations: SANTA, — New Mexico, United Arab Emirates, Rio, New Mexico, Peter Wirth of Santa, Texas

☆ How Danica Roem overcame a massive anti-trans campaign to win her fourth election
▼ + stars: | 2023-11-12 | by ( Sebastian Cahill | Associated Press | ) www.businessinsider.com time to read: +11 min

Danica Roem is now the first-ever transgender state senator in Virginia. AdvertisementAdvertisementRoem, 39, already had two comfortable reelection victories in her northern Virginia House of Delegates district. After coming into the election with a Democratic State Senate and a Republican House of Delegates, Virginia has a Democratic majority in both chambers. In her own election, Roem "faced an unprecedented deluge of anti-trans hate on the campaign trail, but she was not fazed nor distracted," Parker said. AdvertisementAdvertisementHer Inner MayorAs a trailblazer for trans politicians, Roem is celebrated in Democratic and cultural circles.

Persons: Danica Roem, Roem, —, toting kabobs, Glenn Youngkin, Youngkin's, Youngkin, Annise Parker, Parker, Bob Marshall, Virginia's, she's, Marshall, Bill Woolf III, I'm, Prince William County Organizations: Republican, Service, Shadow, Democratic, Delegates, Republican Gov, Associated Press, ABC, Houston, Democratic State Senate, of, Ohio, Democrat, Capitol, Mayor, Dodge, Airport Locations: Virginia, state's, Arlington , Virginia, Pennsylvania, Delaware, Richmond, United States, Centreville, Manassas, Virginia's, Prince William

Roem, 39, already had two comfortable reelection victories in her northern Virginia House of Delegates district. Only two folks who saw the mailers phoned her and she’s having lunch with one of them to talk things through. ___HER INNER MAYORAs a trailblazer for trans politicians, Roem is celebrated in Democratic and cultural circles. Her slogan for the 2023 campaign was “Fixing roads, feeding kids.” Much of Roem’s social media feed reads like a transportation diary — or the work of a mayor. In her first two campaigns, Roem had her own past investigated, to avoid being blindsided.

Persons: Danica Roem, toting kabobs, Roem, Glenn Youngkin, ” Roem, “, ”, Annise Parker, —, Roem “, Parker, ‘ electable, Bob Marshall, Virginia’s, she's, ” Marshall, Marshall, Bill Woolf III, — “ Organizations: WASHINGTON, Dodge Shadow, Democratic, Delegates, Republican Gov, Associated Press, Houston, “, Capitol, Dodge, Airport, + + Locations: Arlington , Virginia, Virginia, Delaware, Richmond, United States, Centreville, Manassas

☆ The Return of Taxachusetts
▼ + stars: | 2023-11-01 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Bill McGurn and Dan Henninger. Images: AP/Reuters Composite: Mark Kelly‘Affordable housing” is a noble goal and the mother of endless dim policies. The latest counterproductive effort is a push in Massachusetts to fund home construction by taxing home sales. Maura Healey recently gave her blessing to Bay State towns and cities that want to tax home sales. Instead of going into a general fund, the revenue would be set aside to support housing that the state deems affordable.

Persons: Kim Strassel, Bill McGurn, Dan Henninger, Mark Kelly, Maura Healey Organizations: Reuters, Gov, Affordable Locations: Massachusetts, Bay State

☆ California regulator proposes $45 mln penalty for PG&E over 2021 Dixie fire
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

A firefighter continues to hold the line of the Dixie Fire near Taylorsville, California, U.S., August 10, 2021. REUTERS/David Swanson/File Photo Acquire Licensing RightsOct 10 (Reuters) - The California Public Utilities Commission (CPUC) on Monday proposed a $45 million shareholder-funded penalty against Pacific Gas and Electric Company (PG&E) for its connections to the destructive 2021 Dixie wildfire. The proposed penalty, pending CPUC Commissioner's approval, consists of a $2.5 million fine to the California General Fund, $2.5 million payment to tribes impacted by the fire for remediation, and $40 million for capital expenditures to transition records to electronic format. CPUC enforcement staff is recommending this penalty under an Administrative Consent Order (ACO) and Agreement, as per a release on the state regulator's website. Reporting by Anjana Anil and Swati Verma in Bengaluru; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: David Swanson, Anjana Anil, Swati Verma, Miral Organizations: REUTERS, California Public Utilities Commission, Pacific Gas and Electric Company, California General Fund, Thomson Locations: Taylorsville , California, U.S, California, Bengaluru

Local public health officials say the potential loss of funding could severely impact several essential services, including vaccines, cancer screening and testing for sexually transmitted infections. A national public health expert said the situation is unique in the U.S. and a threat to the entire public health field — especially going into an election year when health officials and their department could again become political targets. “I’m hoping this isn’t the start of a new trend of retroactive punishment against public health departments.”More than than 300,000 people live in Ottawa County, making it Michigan's seventh largest county. “You should not be at war with your health providers.”The Network for Public Health Law and the National Association of County and City Health Officials filed amicus briefs in support of Hambley’s lawsuit last month. And Freeman said her organization is keeping a close eye on Ottawa County: “This isn't something we want on the books for other county commissioners to consider in the future."

Persons: COVID, they’ve, ”, Lori Freeman, “ I’m, Herman Miller, Joe Moss, Sylvia Rhodea, — Moss, Rhodea, John Gibbs, Adeline Hambley, Jacob Bonnema, it's, Hambley, “, ” Hambley, Gibbs, Moss, —, Freeman, Robert Wood Johnson Organizations: National Association of County, City Health, Ottawa, Republican, Diversity, Equity, Associated Press, AP, Hambley, Grand Haven, Public Health Law, Associated Press Health, Science Department, Robert Wood Johnson Foundation Locations: Mich, Michigan, U.S, Ottawa County, Ottawa, Grand

☆ Mega Millions jackpot hits $1.25 billion. Here’s how it benefits the government
▼ + stars: | 2023-08-03 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The Mega Millions jackpot grew to $1.25 billion on August 3, 2023. Justin Sullivan | Getty ImagesAfter months of no winners, the Mega Millions jackpot has grown to an estimated $1.25 billion this week, the fourth-largest prize in the game's history. The next Mega Millions drawing is Friday at 11 p.m. Lottery revenue isn't as consistent as income tax revenue, which may cause program funding shortfalls. Federal tax bill on a $1.25B Mega Millions jackpotThe federal government receives a sizable chunk of revenue after the lottery announces a winner because there's a mandatory 24% federal withholding.

Persons: Justin Sullivan, there's, Aravind Boddupalli, Boddupalli Organizations: Mega, Brookings Tax, North American Association of State, Provincial, Tax, Tax Foundation Locations: Federal

☆ Tougher Penalties for Users and Sellers of Fentanyl Don’t Work - The New York Times
▼ + stars: | 2023-07-28 | by ( Maia Szalavitz | ) www.nytimes.com time to read: +2 min

It made no distinction between drug use and sales, or between marijuana and heroin. About 90 percent of those who were born at the peak of the baby boom have at least experimented with illegal drugs. Though by 1970 both parties agreed the Boggs Act had flopped, New York State’s moderate Republican governor, Nelson Rockefeller, didn’t take note of its ineffectiveness. In 1962, he had tried mandating lengthy periods of residential treatment for people with addiction. The sentencing was deliberately harsher than for rape or murder because drugs were seen as a crime against the whole community.

Persons: Boggs, Nelson Rockefeller, didn’t, “, ”, Rockefeller Organizations: Republican, Dealers, Drug, New York, New York City Bar Association, Corrections Locations: United States, China, York, New York City

The dollar index dipped below the 100 level on July 14, marking its lowest level since mid-April 2022. "So there's just a dynamic where the overall access to capital funding improves when there's a weaker dollar in emerging markets, and vice versa. The Swiss bank found that the MSCI Emerging Markets index is trading near a 36% discount to the S & P 500. The three largest are: Vanguard FTSE Emerging Markets ETF , iShares Core MSCI Emerging Markets ETF and iShares MSCI Emerging Markets ETF . Core MSCI is higher by 9.6% in 2023, iShares MSCI Emerging Markets is up 8.2% and Vanguard FTSE Emerging Markets has gained 7.4%.

Persons: Shannon Saccocia, Yung, Yu Ma, there's, Ma, Xingchen Yu, Yu, —, Michael Bloom, Sarah Min Organizations: U.S, UBS, Neuberger Berman, Wealth, Research, Wealth Management, Vanguard FTSE, Markets Locations: outflows, U.S, India, Vietnam, Swiss, America, South, Southeast Asia, Central, Eastern Europe

☆ Alaska, America's worst state for business, pins hopes on a post-oil boom in carbon offsets
▼ + stars: | 2023-07-11 | by ( Scott Cohn | ) www.cnbc.com time to read: +2 min

More than any other state, Alaska is dependent on oil. As much as 85% of the state's unrestricted general fund revenue comes from oil production, according to state estimates. But oil production has been in long-term decline in the state, which was once America's No. Alaska's crude production in 2022 was roughly equal to that of Oklahoma, and it hit the lowest level since 1976, according to Energy Department data. This trend helps explain why Alaska's economy performed worse than any other state last year, according to the Commerce Department, shrinking by 2.4%.

Persons: that's, Mike Dunleavy, Dunleavy Organizations: Energy Department, Commerce Department, Frontier, Business, Education, Alaska, Republican, SB Locations: Alaska, Texas, New Mexico, North Dakota, Oklahoma, States

☆ An earthquake destroyed their California home days before Christmas. They still have to pay the mortgage
▼ + stars: | 2023-07-02 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +14 min

A 6.4 magnitude earthquake had just struck Rio Dell, California, upending homes and lives for the community of 3,400 people near Oregon. “It’s a gamble to not have it,” Rio Dell City Manager Kyle Knopp said. A whopping 90% of homes in California aren’t covered by earthquake insurance, according to Glenn Pomeroy, CEO of the California Earthquake Authority, a nonprofit quake insurer established by the state. Gavin Newsom proclaimed an emergency for Humboldt County, where Rio Dell is located, in part to help local governments access services. Despite seeing how costly earthquake damage can be, she doubts she’ll buy earthquake insurance for her next home.

Persons: CNN —, Jacqui McIntosh, Rio, McIntosh, ”, unlivable, “ It’s, Fred Greaves, “, Kyle Knopp, Glenn Pomeroy, ” Brian Ferguson, Knopp, ” Knopp, Randy Jensen, ” Jensen, Jensen, Jane Tyska, ” Pomeroy, that’s, Pomeroy, Gavin Newsom, Michelle Bushnell, Bushnell, it’s, Keith Porter, Kent Porter, Bolt, Porter, ” Porter, ‘, Alyssa Jorgensen, Jorgensen, didn’t, ” McIntosh Organizations: CNN, Dell, California Earthquake Authority, California Governor’s, Emergency Services, Mendocino Triple Junction, FEMA, Rio Dell, Reuters, Rio Dell Water, Media, East Bay Times, San, Small Business Administration, Institute, The Press Democrat, Mitigation, retrofits, Earthquake, California Earthquake Locations: Rio Dell , California, Oregon, Rio Dell, California, It’s, Mendocino, Cape Mendocino, Northern California, Montecito, Beverly Hills, Malibu, Rio, Humboldt County

☆ Pass the Debt Ceiling Deal - The New York Times
▼ + stars: | 2023-05-30 | by ( The Editorial Board | ) www.nytimes.com time to read: +3 min

At least the military budget in this agreement would be at roughly the same level that Mr. Biden proposed in his 2024 budget. During the talks, Mr. Biden rejected the strict new work requirements for people on Medicaid, but he agreed to changes in the other two programs. Mr. Biden agreed to reduce the new I.R.S. The blunt instrument of the debt ceiling allowed this standoff and its concessions. At that point, Mr. Biden and his legal experts need to follow through on his interest in testing a constitutional solution and try to stop the debt crisis from returning in 2025 or thereafter.

☆ County with high rate of overdose deaths doesn’t use opioid settlement funds for addiction program
▼ + stars: | 2023-05-15 | by ( Aneri Pattani | ) edition.cnn.com time to read: +11 min

Greene County, Tenn., resident Nancy Schneck wants opioid settlement funds to be used for addiction and mental health treatment. In Tennessee, 15% of the state’s opioid settlement funds are controlled by the legislature and another 15% by local governments. Greene County, Tenn., is directing some of its opioid settlement money into the county's capital projects fund. Pack, from East Tennessee State, urges them to increase access to medications that have proven effective in treating opioid addiction. Some Greene County residents want to see opioid settlement funds go to local initiatives that are already operating on the ground.

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