California, if treated as its own nation, now surpasses Japan in economic output, making it the world’s fourth largest economy. This milestone reflects rapid Latino GDP growth, underscoring the crucial role of Latino communities in driving the state’s global standing.

California Gov. Gavin Newsom continues to oppose a proposed billionaire tax measure, arguing it could push the ultra-wealthy away from the state. Speaking at a Bloomberg forum in San Francisco, he cautioned that this tax might ultimately degrade the state’s financial base.