Gavin Newsom: “The largest tax increase on middle class and working folks…”

“Now the question is the prescriptions that, that Trump's offering, as you suggest, I couldn't agree with you more, are sort of proven to do precisely the opposite. I mean, The largest tax increase on middle class and working folks, I.E. Tariffs, inflation, that's now starting to go back up. and Fed policy that is actually not accelerating in terms of decline in interest rates because of those uncertainties, particularly as it relates to pressure, inflation now is not necessarily moving as quickly to lower borrowing costs as we had otherwise hoped.” (35:14–35:22)

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