California cities teeter on tariff see-saw

Contributing sentiments towards policy:

58% : Broader economic uncertainty from international trade policy and stock prices shifting by the day typically motivates people to save more -- slowing spending and cutting into the sales taxes of state and local governments.
48% : "The bogeyman that I'm dealing with is, how are these national and international policies coming out of Washington going to make that harder?"
46% : That will be long before the scheduled end of Trump's 90-day freeze on tariff hikes, meaning global trade relationships could look drastically different between the time Newsom proposes a budget plan and when he finishes negotiations with the Legislature.
45% : The stock market on which state tax revenue is heavily reliant rebounded Wednesday, but the S&P 500 still hadn't fully recovered from a tailspin that began last week after Trump's Rose Garden announcement of sweeping "reciprocal" tariffs.
37% : It doesn't help that many of California's fiscal problems pre-date the trade war and freezing of federal spending on state services.
33% : Cities were already facing layoffs before Trump's inauguration, and California had just dealt with a multibillion-dollar budget deficit. San Diego Mayor Todd Gloria said the fiscal hit to cities is a double whammy: Tax revenues are falling as tourism and consumer spending nosedive, and costs are expected to spike for building materials the city needs for infrastructure projects and affordable housing.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.