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Gavin Newsom: “There was record investments in coming back during the…”

Featuring: Gavin Newsom, Democratic | Governor of California

And, This is Steve Bannon | This is Gavin Newsom

Published March 12, 2025 | Video Starts at 29:52

If President Trump had not won this election. And you just had. You don't think those companies. No, I mean, I do know records, but There was record investments in coming back during the [Biden administration]. Well, I think, correct me if I'm wrong, I think Biden in entire four years was $1.7 trillion of capital investment back here from, I think companies. Not just private equity. (29:52–29:58)

CLAIM

Asserts that there were record investments in reshoring during Biden's administration.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Gavin Newsom

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“That's $1.3 billion small ball, but it's symbolic and subsidy. What about the $3 billion in oil gas subsidies?”
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“I say that as governor of the largest manufacturing state in America, a state that has more corporate headquarters... than any other state…”
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“You've been pretty critical about the proposed tax, the extension of the existing tax cuts that disproportionately favor the wealthiest.”
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“His current proposal doesn't add up then in that respect blows the deficit and continues those corporate tax cuts and continues the tax cuts…”
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“It's 3 trillion even before COVID hit.”
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“Moderate the income taxes for middle class working folks.”
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“We doubled another 25% back to aluminum steel.”
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“On tariff policy, it seems a little chaotic. There's no stability. The markets are reflecting that.”
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“You mean with all the uncertainty, the market uncertainty, the Trump slump, all of the stress and the anxiety that people are feeling.”
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