Economics
Gov. Gavin Newsom Signs Bill on Presidential Tax Returns
California’s Democratic governor signed a law Tuesday requiring presidential candidates to release their tax returns to appear on the state’s primary ballot, a move aimed squarely at Republican President Donald Trump.
Most of the major Democratic candidates for president have already publicly disclosed their personal income tax returns as Trump has refused to do so, breaking with decades of tradition by candidates from both parties.
The Trump campaign said the law signed by Newsom is “unconstitutional.” But even if the law withstands a likely legal challenge, Trump could avoid the requirement by choosing not to compete in California’s March 3rd primary.
The Republican National Committee does not require candidates to appear on primary ballots in all 50 states. With no credible GOP challenger at this point, Trump likely won’t need California’s delegates to win the Republican nomination. The law does not apply to the general election ballot.
Harmeet K. Dhillon, one of California’s two representatives on the Republican National Committee, called the bill an “illegal voter suppression scheme.” Removing Trump from the state’s primary ballot would likely depress turnout from GOP voters for down-ticket races and ballot measures, she said.
Newsom, who has repeatedly sparred with Trump over immigration policy and California’s troubled high-speed rail project, said the state’s influence as one of the world’s largest economies gives it “a special responsibility” to hold candidates to high ethical standards, including disclosing information about their personal finances.
“These are extraordinary times and states have a legal and moral duty to do everything in their power to ensure leaders seeking the highest offices meet minimal standards, and to restore public confidence,” Newsom wrote in his signing statement.
While states have authority over how candidates can access their ballots, the U.S. Constitution lays out a limited set of qualifications candidates must meet to run for president, said Rick Hasen, a professor specializing in election law at the University of California- Irvine School of Law. Those qualifications include requiring presidential candidates be over age 35, born in the U.S. and live at least 14 years in the country.
The U.S. Supreme court has previously halted state efforts to add ballot access rules for congressional candidates.
The bill’s author, Democratic Sen. Mike McGuire, said it would be “inconsistent” with past practice for Trump to forego the primary ballot and “ignore the most popular and vote-rich state in the nation.”
In a tweet to Trump, McGuire said: “If you want to be on the CA primary ballot, release your returns. It’s a low bar to hit, unless you have something to hide.”
Tax returns show income, charitable giving and business dealings, all of which Democratic state lawmakers say voters are entitled to know about.
California is the first state to enact legislation compelling political candidates to disclose their personal income tax returns. New York state has passed a law giving congressional committees access to Trump’s state tax returns, which Trump has challenged in court . Efforts to pry loose his tax returns have floundered in other states.
California’s first attempt to force presidential candidates to reveal their tax returns failed in 2017 when then-Gov. Jerry Brown, a Democrat, vetoed the law after raising questions about its constitutionality. Of the 18 state legislatures that introduced similar bills in 2019, 11 are still active, according to Dylan Lynch, a policy specialist at the National Conference of State Legislatures.
California’s law requires candidates to submit tax returns for the most recent five years to California’s Secretary of State at least 98 days before the primary. They will then be posed online for the public to view, with some personal information redacted.
The law also applies to candidates for governor. Newsom, who took office in January, released six years of his personal income tax returns prior to California’s 2018 gubernatorial primary.
Jack Pitney, a political science professor at Claremont McKenna College, said California’s new law will bring greater transparency but could deter some candidates with complex tax returns from running for governor.
“Even if the tax returns are completely lawful, there is plenty of material for opposition researchers,” he said.
Associated Press writer Zeke Miller in Washington contributed to this report.
Business
Black Business Summit Focuses on Equity, Access and Data
The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship. Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.
By Solomon O. Smith, California Black Media
The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship.
Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.
Toks Omishakin, Secretary of the California State Transportation Agency (CALSTA) was a guest at the event. He told attendees about his department’s efforts to increase access for Black business owners.
“One thing I’m taking away from this for sure is we’re going to have to do a better job of connecting through your chambers of all these opportunities of billions of dollars that are coming down the pike. I’m honestly disappointed that people don’t know, so we’ll do better,” said Omishakin.
Lueathel Seawood, the president of the African American Chamber of Commerce of San Joaquin County, expressed frustration with obtaining federal contracts for small businesses, and completing the process. She observed that once a small business was certified as DBE, a Disadvantaged Business Enterprises, there was little help getting to the next step.
Omishakin admitted there is more work to be done to help them complete the process and include them in upcoming projects. However, the high-speed rail system expansion by the California High-Speed Rail Authority has set a goal of 30% participation from small businesses — only 10 percent is set aside for DBE.
The importance of Diversity, Equity and Inclusion (DEI) in economics was reinforced during the “State of the California Economy” talk led by author and economist Julianne Malveaux, and Anthony Asadullah Samad, Executive Director of the Mervyn Dymally African American Political and Economic Institute (MDAAPEI) at California State University, Dominguez Hills.
Assaults on DEI disproportionately affect women of color and Black women, according to Malveaux. When asked what role the loss of DEI might serve in economics, she suggested a more sinister purpose.
“The genesis of all this is anti-blackness. So, your question about how this fits into the economy is economic exclusion, that essentially has been promoted as public policy,” said Malveaux.
The most anticipated speaker at the event was Janice Bryant Howroyd known affectionately to her peers as “JBH.” She is one of the first Black women to run and own a multi-billion-dollar company. Her company ActOne Group, is one of the largest, and most recognized, hiring, staffing and human resources firms in the world. She is the author of “Acting Up” and has a profile on Forbes.
Chairman of the board of directors of the California African American Chamber of Commerce, Timothy Alan Simon, a lawyer and the first Black Appointments Secretary in the Office of the Governor of California, moderated. They discussed the state of Black entrepreneurship in the country and Howroyd gave advice to other business owners.
“We look to inspire and educate,” said Howroyd. “Inspiration is great but when I’ve got people’s attention, I want to teach them something.”
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