Trump’s tariffs predicted to cut California’s tax revenue by $16 billion

By: coinfea|2025/05/14 21:15:05
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The finance team of Governor Gavin Newsom has warned in a memo that California could lose $16 billion in tax next year because of United States President Donald Trump’s tariffs. According to the memo, revenue in the fiscal year that starts in July will fall 4% from the state’s earlier forecast. Staff members think the drop is connected to a stock sell‐off that hit Wall Street after Trump set out a wide tariff push on April 2.The officials broke down the projected loss, noting that about $10 billion less from capital‐gains taxes, $2.5 billion less from corporate taxes, and roughly $3.5 billion less from personal‐income taxes tied to wages and business profits. “Trump’s tariff policies weakened the national and state outlook and caused equity losses,” the memo says. Officials add that these factors began to drag on California receipts in 2025 and erased the strong cash flow the state had seen earlier in the year.Newsome says the gap is the “Trump Slump”The report was first made by Politico, and the memo, which lands one day before the governor is due to unveil his new budget proposal for the coming fiscal year. California’s budget is dependent on the richest households. The top 1% of earners pay nearly half of all personal income tax, and much of that money hinges on capital‐gains income that follows the stock market.The new hit to the treasury comes on top of $27.3 billion in financial remedies. It includes $16.1 billion in cuts and a $7.1 billion removal from the state’s rainy‐day fund. California’s constitution requires a balanced budget each year, which means that any shortfall must be closed. Hence, this will be the third year in a row that Newsom and lawmakers trim spending after earlier budgets allocated more money than the state can spend on various programs.Trump’s tariff order in April placed duties on all imported goods, raised taxes on items from Mexico, Canada, and China, and set extra levies on products such as cars and aluminum. While the president has since eased some of those tariffs, Newsom argues that the policy and the uncertainty around it will raise unemployment and inflation, lower gross domestic product, and shrink capital‐gains revenue for California.The post Trump’s tariffs predicted to cut California’s tax revenue by $16 billion first appeared on Coinfea.

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LALIGA Match Report: Vinícius scores as 10-man Real Madrid secure a 3-2 comeback victory in Madrid derby

In the early hours of March 23, 2026, Round 29 of LALIGA delivered a headline clash at the Santiago Bernabéu. Real Madrid hosted their local rivals, Atlético de Madrid, in a high-stakes encounter. Under referee José Munuera, the match unfolded at a fierce pace, packed with physical duels and momentum swings. After a five-goal thriller, Real Madrid held firm for a 3–2 home win, taking all three points. They remain second on 69 points, now four behind leaders Barcelona.

From a numbers standpoint, Real Madrid stayed composed under pressure, completing 526 passes with a 52.4% share of possession. Atlético struck first in the 33rd minute through Lookman. After the break, Real Madrid flipped the game: Vinícius converted a penalty to level, then Valverde fired them ahead. Molina pulled Atlético back on level terms, but Vinícius stepped up again in the 72nd minute to seal the win. Late drama followed as Valverde saw red, forcing Real Madrid to defend deep with ten men through the final stretch. Atlético's aggressive approach—12 fouls and 4 yellow cards—kept the pressure on, but they couldn’t stop the comeback.

WEEX Insights: As the official LALIGA partner in the Hong Kong and Taiwan regions, WEEX sees this win as a masterclass in control under pressure. Even after a red card and constant attacks, Real Madrid stayed sharp and executed with precision. That same discipline—staying calm in volatile moments and acting with clarity—reflects the core trading mindset WEEX stands for. LALIGA fan campaigns are coming soon—celebrate the game with WEEX.

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era — delivering real-time AI news, empowering users with AI trading tools, and exploring innovative trade-to-earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

Follow WEEX on social media

X: @WEEX_Official 

Instagram: @WEEX Exchange

 Tiktok: @weex_global 

Youtube: @WEEX_Official 

Discord: WEEX Community 

Telegram: WeexGlobalGroup

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In the early hours of March 22 (Beijing Time), Barça edged Rayo Vallecano 1–0 at Camp Nou in a key Round 29 clash. The hard-earned win lifts Barça to 73 points, strengthening their hold on first place.

Barça controlled the game with 61% possession and a sharp 89% passing accuracy (460 passes). Rayo pushed back with intensity, earning 9 corners, but Barça's defense stayed solid. Yellow cards for Raphinha, Yamal, and Cubarsí highlighted the physical edge of the match. Second-half subs like Rashford and Olmo added fresh energy to help see out the result. Rayo remain 14th on 32 points.

WEEX Insights: As the Official LALIGA Partner in HK & TW, WEEX sees Barça’s 89% passing accuracy as a clear example of high execution with minimal error. Staying precise under pressure and finding the breakthrough reflects the same disciplined approach used in rational trading.

LALIGA interactive campaigns are coming soon—stay tuned with WEEX ⚽️

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era — delivering real-time AI news, empowering users with AI trading tools, and exploring innovative trade-to-earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

Follow WEEX on social media

X: @WEEX_Official

 Instagram: @WEEX Exchange 

Tiktok: @weex_global 

Youtube: @WEEX_Official 

Discord: WEEX Community 

Telegram: WeexGlobalGroup

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