In his annual State of the State address, Governor Gavin Newsom blamed “private equity firms in Manhattan” for the state’s housing crisis, and then credited the rise in tech stocks with saving the state budget. In other news: Julie Su is now New York City’s problem, State Senator Scott Wiener wants San Francisco to confiscate Pacific Gas & Electric because the city has done so well with the open-air drug trade, and California AG Rob Bonta is on a losing streak in federal court. Bonus! Finance analyst Marc Joffe joins to discuss the political role of Service Employees International Union beyond its 2026 wealth tax. Music by Metalachi.Email Us:[email protected]@calpolicycenter.orgFollow Us:@DavidBahnsen@WillSwaim@TheRadioFreeCAShow NotesNewsom overcomes unease, dyslexia to deliver a sterling State of the State addressGavin Newsom calls for California to limit home buying by large investorsNew California Rent Laws Going Into Effect in 2026AI windfall helps California narrow projected $3-billion budget deficitNewsom Vows to Stop Proposed Billionaire Tax in CaliforniaGarry Tan on XMamdani Picks Rafael Espinal to Lead New York’s Film OfficeCalifornia Should Stop Forcing Drivers to Subsidize DeforestationHow would San Francisco take over PG&E assets?California Drops Lawsuit Over $4 Billion Federal Cut to High-Speed Rail ProjectHalted: Federal Judge Blocks Enforcement of California’s Newly Enacted Labor LawNinth Circuit strikes down California urban open-carry banMarc Joffe on SEIUThe Union that May Have Broken CaliforniaWhat to Do with California’s Billionaire Tax Proceeds Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.