Robert Rivas

California Governor Gavin Newsom, Assembly Speaker Robert Rivas, and Senate President pro Tempore Monique Limón announced a budget agreement to eliminate deficits for the next two fiscal years, allocating $251.5 billion in general fund spending and $28 billion in reserve funds. The agreement addresses federal funding cuts attributed to President Donald Trump and includes $900 million for homeless housing programs.

California lawmakers aim to increase the state’s rainy day fund cap from 10% to 20% through the Save For California’s Future Act, which also seeks to protect public school funding and pay down liabilities like federal Unemployment Insurance loans. The measure requires a two-thirds legislative vote by Thursday to qualify for November’s ballot.

California voters will decide in November on an $11.25 billion affordable housing bond to fund construction, preserve affordability, and expand homeownership opportunities. The bond includes $10 billion for general obligation bonds targeting lower-income residents and $1.25 billion for self-supporting revenue bonds to aid veterans through the CalVet home loan program.

California’s proposed cap on corporate tax credits, set to take effect in 2027, has drawn opposition from the life sciences and tech industries, which argue it would threaten their economic contributions and innovation. The policy aims to ensure large corporations pay minimum taxes while lawmakers debate its impact on state revenue and business incentives.

California’s governor proposes permanently capping corporate tax credits to generate annual revenue, alarming the life sciences and tech industries, which argue it would threaten their economic impact and innovation incentives. Opponents, including lawmakers and industry leaders, warn the cap could weaken key economic sectors despite claims it would not harm small businesses.

Independent journalist Nick Shirley confronted California lawmakers at the state Capitol, questioning Assembly Bill 2624, dubbed the 'Stop Nick Shirley Act' by Republicans, and alleging it infringes on First Amendment rights by restricting the public posting of personal information related to immigration services. Lawmakers, including Sen. Sasha Renée Pérez and Assembly Speaker Robert Rivas, either avoided detailed discussions or dismissed Shirley's claims, with some calling him a 'scam artist.'