Economy

Governor Newsom Reveals Stance on Several Ballot Propositions

Written by Nicholas Vetrisek

Last week, Gov. Gavin Newsom revealed his position on five key statewide propositions. This comes three weeks after he revealed his position on four other propositions.

The initiatives Newsom endorsed include Prop 14, a bill to continue funding stem cell research at an estimated cost of $7.8 billion. He also endorsed Prop 18, which will allow 17-year-olds to vote in certain elections, and Prop 19, which reduces taxes for older Californians that purchase new homes while drastically raising property taxes on family members who inherit homes. Arguably the most impactful endorsement he gave was for Prop 15, a bill that nullifies Prop 13, which was passed in 1978 and caps property taxes. If passed, taxes will drastically increase and small businesses will be severely affected.

Surprisingly, Newsom opposed was Prop 21, which allows cities to pass rent control on buildings 15 years or older. In doing so, he actually split with most Democrats, and even failed presidential candidate Bernie Sanders (I-VT), who has endorsed the proposal.

Newsom has also remained silent on easily the most publicized initiative in the election cycle: Prop 22. It exempts ride-share companies such as Uber and Lyft from the restrictions of AB 5. The initiative is the subject of a $186 million campaign, which is the most expensive in state history and has received endorsements by Democrat presidential nominee Joe Biden, as well as his running mate, Sen. Kamala Harris (D-CA).

 

Photo by JD Lasica via Flickr