California has $21 billion in 'rainy day' fund; coronavirus threatens to wipe it out

Source: Daily Republic - View Original Article
Published: Mar 25, 2020
Category:
Bias Rating:

97% Liberal


Top 5 sentiments contributing towards policies:

95% : One notable change from the past recessions is the existence of the federal Affordable Care Act, which eliminated some of the more stringent eligibility rules for Medi-Cal and also created health insurance exchanges such as Covered California, which offer subsidies to low- and middle-income citizens.
78% : The volatile nature of tax collections meant little certainty for healthcare, education and social services.
40% : Three significant economic downturns over the past quarter-century triggered sharp drops in tax revenue, two of which occurred in a single decade.
30% : Now, a little more than 10 weeks later, there are threats to all three of the state's biggest sources of tax revenue: personal income taxes, corporate taxes and sales taxes.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization

Extremely
Liberal

Very
Liberal

Moderate-left

Neutral

Moderate-right

Very
Conservative

Extremely
Conservative

100%

100%

Contributing sentiments towards policy:

95% : One notable change from the past recessions is the existence of the federal Affordable Care Act, which eliminated some of the more stringent eligibility rules for Medi-Cal and also created health insurance exchanges such as Covered California, which offer subsidies to low- and middle-income citizens.
78% : The volatile nature of tax collections meant little certainty for healthcare, education and social services.
40% : Three significant economic downturns over the past quarter-century triggered sharp drops in tax revenue, two of which occurred in a single decade.
30% : Now, a little more than 10 weeks later, there are threats to all three of the state's biggest sources of tax revenue: personal income taxes, corporate taxes and sales taxes.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization