Daily Business Report: Friday, March 21st, 2025
Gavin Newsom’s MAGA-curious podcast mystifies listeners — and sets Democratic lawmakers on edge
By ALEXEI KOSEFF | CalMatters
When Gov. Gavin Newsom launched his new podcast last month, he touted it as an opportunity to understand the MAGA movement’s motivations and figure out a path forward for Democrats after the party’s bruising losses in the 2024 election.
But the early response has predominantly been bewilderment — from supporters, critics and the public alike — as listeners struggle to make sense of Newsom’s intentions, his political evolution and what the show signals for his leadership of California.
The governor’s about-face from leading critic of President Donald Trump to MAGA-curious pundit comes at a critical moment for the state, as California launches legal battles against Trump administration policies and faces potentially hundreds of billions of dollars in federal funding cuts.
California is the only state that doesn’t exempt veterans’ retirement from taxes. Is this the year that changes?
By AMEEA KAMAL | CalMatters
After at least eight tries in the Legislature, California may finally join every other state in providing at least some tax exemptions for military retirement income, which supporters argue will help veterans stay in the state and contribute to a skilled workforce.
Assemblymember James Ramos has introduced, for the third time, a bill that would allow veterans to exempt up to $20,000 of their federal pensions if they make under $125,000 a year. He narrowed his bill from last year that sought to exempt a veteran’s full retirement income. Sen. Kelly Seyarto, a Republican from Murrieta, introduced a similar bill in the Senate.
Overall, about 1.4 million veterans live in California, of whom 141,000 receive military retirement income, according to the latest data available from the U.S. Department of Defense. Another 26,000 Californians receive survivor benefits.
Newsom Asks for $2.8 Billion More for Medi-Cal Program that Covers Illegal Immigrants
By Jill McLaughlin | The Epoch Times
California Gov. Gavin Newsom, only days after receiving a $3.44 billion loan, requested an additional $2.8 billion from the state to fund Medi-Cal, the state’s health care program that covers illegal immigrants, his office has confirmed.
The decision drew more criticism on Monday from state leaders who claim the rapidly ballooning program was unfairly burdening Californians.
Newsom’s office again denied that the extra costs were the result of providing health care services to illegal immigrants, adding he planned to work with legislative leadership to tighten the budget.
