2/25/2024 0 Comments La household budget exampleagreed to pay a $1.675 billion penalty - the largest civil penalty in a Clean Air Act case and the second largest environmental penalty ever imposed in the nation. One of the world’s largest engine manufacturers has agreed to pay a record-breaking fine and other costs totaling $2 billion after facing charges that about 1 million pickup trucks were illegally equipped with devices circumventing California and national emission standards.Ĭummins Inc. See it for yourself: 2024-25 Higher Education Budget Summary A final budget compromise with the legislature is expected this summer. What's next: The governor’s proposal is just a starting point. Why now: Weaker-than-expected state revenues and delayed tax deadlines due to natural disasters have contributed to the budget shortfall. It provides undergrads and students pursuing a teaching credential with funding to attend a UC, CSU, or community college. It's part of wider efforts to keep students from taking out loans to earn a bachelor’s degree. What does that mean? The Middle Class Scholarship is for families that earn a little over $200,000 a year. The governor has, however, decided to forgo a planned one-time investment of $289 million to increase the Middle Class Scholarship. Gavin Newsom’s 2024-25 spending plan includes a slight bump for higher ed, including $2.5 billion for the Cal Grant and $636.2 million for the Middle Class Scholarship. to learn more about the 2022-23 budget.ĭespite a projected $37.9-billion deficit, Gov. That 2019 state law changed the statute of limitations for child sex abuse survivors and allowed them to file civil suits during a three-year window. According to the county CEO, it may have to pay more than $3 billion to settle childhood sexual assault claims filed under AB 218. County could be facing some serious budget challenges in the years ahead. What's next: With fiscal year 2023-24 taken care of, L.A. The backstory: The Board of Supervisors had already approved a $43.3 billion budget in June, but a flood of state and federal dollars, as well as unexpected departmental savings, allowed it to grow to $46.7 billion. It also includes $870.5 million of Measure H funding, the most ever allocated in a single budget year, according to the county’s Chief Executive Office. Why it matters: The new budget adds 666 jobs, bringing the total to more than 115,300 budgeted positions for L.A. County Board of Supervisors approved an amended budget for the 2023-24 fiscal year on Tuesday, adding hundreds of positions and more than $3.4 billion in spending.
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