In a surprising turn of events, California has found itself grappling with a significant deficit after boasting a $100 billion surplus just a few years ago. Governor Newsom, addressing the concerning shift, pointed fingers at an unexpected culprit: climate change.
Attributing the state’s financial woes to what he termed “rain bombs,” Governor Newsom elaborated on the unforeseen challenges faced by California due to extreme weather patterns. He highlighted the occurrence of atmospheric rivers during the months of December through March, triggering a cascade of events including a federal declaration. This declaration, in turn, resulted in the involvement of FEMA and the IRS, ultimately delaying the collection of state taxes until mid-November.
Governor Newsom’s remarks underscored the broader ramifications of climate change, extending far beyond environmental concerns. He emphasized the urgent need for action, citing the financial setbacks as a poignant reminder of the imperative to address climate-related challenges comprehensively.
As California navigates its fiscal landscape amidst the fallout of “rain bombs” and the spectre of climate change, the state finds itself at a critical juncture, necessitating proactive measures to mitigate future risks and safeguard its economic stability.
