Los Angeles, CA ??" Tuesday, September 11, 2007 ??" TOWN HALL LOS ANGELES welcomes back Russell Goldsmith, Chairman, and Chief Executive Officer of City National Bank, on Thursday, September 20, 2007, at the Sheraton Downtown Los Angeles Hotel. Goldsmith???s address ???Shortchanged: Why California Should Demand Its Fair Share of Federal Funding is part of Town Hall???s ongoing Finance & Economy Series.
During his Town Hall address, Goldsmith will assert that California is not receiving its fair share of federal tax dollars, and urge voters to use the upcoming California presidential primary to demand a change. "California has the largest congressional delegation in the United States, stated Goldsmith ???and political candidates from every corner of the nation come here to ask for financial support. Yet our state has received the short end of the stick for many years when it comes to federal expenditures for transportation, health care, immigration, and homeland security. California deserves better."
California receives only 79 cents for every dollar that its taxpayers send to Washington, DC. Only five states receive less. California taxpayers send approximately $50 billion a year more to Washington, DC than they get back in funding and benefits ??" a sum equal to $1400 for every one of the state???s men, women, and children.
Goldsmith became CEO of City National Bank in 1995. City National was founded in 1954 and is now the largest commercial bank headquartered in Southern California. The company has nearly $16 billion in total assets and 62 offices in California, Nevada, and New York City.
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