As Gabe Petek, the Legislature’s budget analyst, said in a January response to Newsom’s state revenue forecast, “These gains are not tied to improvements in the state’s broader economy, which has been lackluster, with elevated unemployment, a stagnant job market outside of government and healthcare, and sluggish consumer spending.”

President Donald Trump can't stop contradicting himself on his own tariff plans. He says he's on a path to cut several new trade deals in a few weeks — but has also suggested it's “physically impossible" to hold all the needed meetings.

Key Takeaways Tariff revenue spiked in April as President Donald Trump's "Liberation Day" import taxes went into effect.The government collected $15.9 billion in tariff revenue in April so far, compared to $9.