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Impact on California's budget deficit due to Newsom's veto of AB 1840 by end of 2024?
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California Department of Finance and official budget reports
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California Governor Newsom Vetoes Bill to Aid Undocumented Homebuyers with $150,000 Loans
Sep 6, 2024, 06:18 PM
California Governor Gavin Newsom has vetoed AB 1840, a bill that would have allowed undocumented immigrants to apply for the state's first-time homebuyers assistance program. The bill proposed providing up to $150,000 in state-supported home loans to eligible undocumented immigrants. Newsom cited budget constraints and the finite funding available for California Housing Finance Authority programs as the primary reasons for the veto. He emphasized the need to carefully consider expanding program eligibility given the state's $70 billion budget deficit. The decision, influenced by significant public pressure, has drawn substantial public attention and reactions, with some viewing it as a necessary measure given the current financial situation.
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