California Governor Race Results: Who Won and How It Changes Your Tax Bill
It’s official: Gavin Newsom held onto his seat in the governor race in California. While you might be scrambling to remember who won the governor race in California, the real question is how this win hits your wallet. Consumer advocates warn that Newsom’s victory means no major rollback on the state’s gas tax hike or the controversial $20 minimum wage for fast food workers, which many feared would push up your burger and pizza prices. Essentially, you’re still paying more at the pump and the drive-thru. Plus, with the housing crisis unaddressed, renters shouldn’t expect a break. The win also signals a green light for higher electric rates to fund renewable projects, meaning your monthly utility bill will likely inch up again. Bottom line: if this race went the other way, your grocery and gas costs might have dropped. Instead, prepare for another year of “sticker shock” at the register.