The California Assembly voted Monday to approve a statewide universal health care plan, though its fate in the Senate remains uncertain. The health care reform bill was one of Republican Gov. Arnold Schwarzenegger’s top priorities this year. The bill passed on a party-line vote of 46 to 31, with Democrats in favor and Republicans against. Passage of the bill follows about a year of negotiations, but its fate remains in the hand of Senate president pro tempore Don Perata, D-Oakland, who has indicated that he is reluctant to propose such a massive health care reform while the state is facing a potential $14 billion deficit next year that threatens many existing health programs. The bill would require all Californians to purchase health insurance, while providing subsidies for people with lower incomes, and is to guarantee that all will be able to purchase insurance no matter their age and medical histories. The funding plan includes more than $2 billion from a new tax or fee on hospitals and about $1.5 billion from increased tobacco taxes. An administration proposal to lease the state lottery and use the revenues to finance the insurance program was shelved. The new taxes and fees would all require voter approval on the November 2008 ballot before the insurance package could take effect. Perata, who said he favors the concept, said the Senate will not take up the health care plan until 2008, and said he wants a financial analysis from California’s nonpartisan Legislative Analyst’s Office before he decides what course to pursue.
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Moody's Ratings on Monday revised Illinois' outlook to positive from stable and affirmed the state's A3 issuer rating and the A3 rating on its GO debt.
April 23 -
"Bifurcated demand reflects the persistent bid strength from [separately managed accounts] and retail investors, not to mention more accounts marshaling cash and liquidity up front while the Fed perspective evolves," said MMA's Matt Fabian.
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In a move that kicks the can down the road at the very least, the Commission has begun a process that often results in outright rejection.
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The 2022 law, which has so far banned three major investment banks from underwriting municipal bonds in Oklahoma, could be amended to limit its reach to state agencies.
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The SEC has won a partial victory against Choice Advisors and its principal Matthias O'Meara for their role in acting as unregistered brokers and for engaging in a fee-splitting arrangement.
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The trio have decades of experience in high yield and investment grade portfolios and will launch new high-yield investment strategies and vehicles for Rockefeller.
April 23