By Marisa Kendall | [email protected] | Bay Area News Group PUBLISHED: January 10, 2019 at 3:25 pm | UPDATED: January 10, 2019 at 4:05 pm Gov. Gavin Newsom on Thursday called on Silicon Valley companies to step up and match the massive sum he intends to use to build workforce housing. Speaking to reporters after unveiling his first proposed budget as California’s new governor — which sets aside a hefty $500 million for middle-income housing — Newsom said he expects “corporate California” to help build the state out of its housing shortage. “The workforce housing issues have been exacerbated by the success of a lot of these companies,” he said. “I do not begrudge other people’s success, but that success has created burdens and stress, and we are doing our part, and I would be asking them to do their part to amplify our efforts, to match those efforts and to increase our capacity to deliver.” Newsom did not … [Read more...] about ‘I want to see the Valley step up:’ Gov. Newsom pressures companies to help build housing
But the more that Newsom and Democratic lawmakers rely on the unrestricted reserves, the higher the stakes for their progressive policy agenda. Analysts have pointed out that if the national economy continues to produce solid results through this summer, it will tie the record — 10 years — for the longest recovery in modern history, double the length of average economic expansions. … [Read more...] about Newsom unveils a $209-billion budget to boost schools and healthcare and fight poverty
Whether Newsom insists on a strategy different from that of former Gov. Jerry Brown, who generally offered plans built on more cautious tax revenue predictions, is a decision that will be watched closely. The new governor will get his best chance to set the state’s fiscal agenda in May, when his revised budget will take into account tax payments made by millions of Californians by April 15. … [Read more...] about Gov. Gavin Newsom sends lawmakers a $209-billion budget to boost schools, healthcare and efforts to fight poverty
By Katy Murphy | [email protected] | PUBLISHED: January 10, 2019 at 6:00 am | UPDATED: January 10, 2019 at 6:00 am SACRAMENTO — Gavin Newsom will unveil his first-ever budget proposal this morning at the Capitol — just three days after he was sworn in as the state’s 40th governor — at last putting dollar signs behind some of the soaring rhetoric that defined his campaign and inauguration. While his predecessor, Jerry Brown, famously warned of impending economic calamity each time he took the stage for the annual budget-blueprint ritual, Newsom, 51, begins the job with a problem that most public figures would love to have: What to do with a record surplus, projected to reach $14.8 billion next year? And that only counts the money that could be spent on almost any government program — or, theoretically, returned to Californians through tax cuts. In addition to that sizable sum, California has a separate, emergency-reserve fund which … [Read more...] about $14.8 billion! How will Gavin Newsom spend California’s massive surplus?
Jonathan J. Cooper, Associated Press Updated 3:36 pm PST, Wednesday, January 9, 2019 In this Monday, Jan. 7, 2019, photo, California Gov. Gavin Newsom holds his son Dutch while giving his address at his inauguration in Sacramento, Calif. Newsom gets his chance this week to show how he'll resolve a central tension in his platform: advancing expensive new programs while maintaining robust savings. less In this Monday, Jan. 7, 2019, photo, California Gov. Gavin Newsom holds his son Dutch while giving his address at his inauguration in Sacramento, Calif. Newsom gets his chance this week to show how he'll ... more Photo: Eric Risberg, AP Photo: Eric Risberg, AP Image 1 of / 1 Caption Close Image 1 of 1 In this Monday, Jan. 7, 2019, photo, California Gov. Gavin Newsom holds his son … [Read more...] about Newsom’s first California budget aims to balance promises