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COMMENTARY: Gov. Newsom to Present 2026 Budget: What Black Californians Should Watch     

The proposed $322.2 billion budget, including $228.9 billion in general fund spending, addresses a $2 billion deficit that Newsom is required to balance under state law. The Legislative Analyst’s Office (LAO) notes that while $16.5 billion in additional revenue from a strong economy, stock market gains, and higher tax receipts provide flexibility, long-term structural challenges persist. Spending growth, projected at 5.8% annually, continues to outpace revenue growth of 4%, with deficits potentially reaching $30 billion by 2028-29 without adjustments.

Published

1 year ago

January 11, 2025

Oakland Post

iStock.

By Joe W. Bowers Jr., California Black Media 

On Jan 10, Gov. Gavin Newsom will present his 2026 budget to the Legislature.

On Jan. 6, he previewed budget highlights while receiving the North San Joaquin Valley’s regional economic plan, a part of California’s broader Jobs First Economic Blueprint aimed at driving local and statewide development.

Newsom plans to save $1.2 billion over two years by eliminating 6,500 state jobs and cutting $3.5 billion through operational efficiencies like reduced travel and IT modernizations. Despite these measures, Newsom assured there will be no cuts to core programs. Temporary revenue boosts, including $7 billion from stock market-linked income taxes, offer short-term relief but are not sustainable, making California’s $17 billion rainy-day fund a critical tool for managing future fiscal pressures.

This budget will incorporate strategies discussed during a recent special legislative session convened to prepare for potential conflicts with the incoming Trump administration and to safeguard critical state programs against federal interference or defunding.

During the Dec. 2 special legislative session, lawmakers introduced SBX-1, authored by Sen. Scott Wiener (D-San Francisco), which allocates $25 million to the California Department of Justice to cover litigation costs for defending state policies against federal challenges.

The budget continues investments in education, healthcare, housing, and economic growth.

In the 2025-26 budget, Proposition 98 funding for K-12 schools and community colleges increases by $1.5 billion, reaching $116.8 billion, with per-pupil spending rising to a record $23,723. Of this amount, $2.8 billion will be available for new commitments, reflecting forecasts for growth and a 2.46% statutory cost-of-living adjustment. Initiatives such as Universal Transitional Kindergarten, expanded after-school and summer programs, and Universal School Meals are expected to strengthen educational outcomes.

Despite this funding boost, inequities persist in educational outcomes for Black students. Discretionary funds could support programs aimed at addressing these disparities, including investments in teacher training, mental health services, and restorative justice initiatives.

California’s higher education system is expected to benefit from increased funding to support affordability and access across its community colleges, California State University, and University of California systems. The budget will likely emphasize financial aid expansion, enrollment growth for underserved groups, and infrastructure improvements, while aligning educational programs with workforce needs to ensure graduates are prepared to fill existing gaps in the job market.

California’s housing crisis continues to disproportionately affect Black residents. Although Black Californians make up nearly 6% of the state’s population, they represent roughly 50% of its unsheltered homeless population. As of 2024, California’s homeless population exceeded 180,000, reflecting a 31% increase since 2007.

The California Legislative Black Caucus (CLBC) is anticipated to play an active role in budget negotiations. Historically, the caucus has championed policies that address disparities in education, housing, and healthcare impacting Black Californians.

The active involvement of stakeholders, including the CLBC, will be pivotal in shaping the state’s response to critical issues impacting Black Californians.

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Oakland Post: Week of February 25 – March 3, 2026

The printed Weekly Edition of the Oakland Post: Week of – February 25 – March 3, 2026

Published

5 days ago

March 1, 2026

Oakland Post

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

2 weeks ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.