Controller Malia M. Cohen Responds to Governor Newsom’s State of the State Address

SACRAMENTO — Today, State Controller Malia M. Cohen issued the following statement in response Governor Gavin Newsom final State of the State Address outlining his Administration’s accomplishments while outlining his priorities for the year ahead.

“As the State’s Chief Fiscal Officer, I applaud the Governor’s focus on rebuilding our reserves and buying down state debt. These are fiscally responsible steps that improve California’s resilience, especially as we navigate uncertain economic conditions and multi-year budget pressures. A strong Rainy-Day Fund and a disciplined approach to debt reduction are essential tools for stabilizing the budget, protecting credit ratings, and ensuring we have the capacity to maintain critical public programs during downturns.

“I remain committed to working with the Governor and Legislature to strengthen our long-term fiscal position and ensure taxpayer dollars are spent prudently, transparently, and with measurable results. While we face challenges ahead, taking a forward-looking and transparent approach to our budgeting will allow us to meet this moment with strength, discipline, and confidence.”

As the chief fiscal officer of the fifth-largest economy in the world, California State Controller Malia M. Cohen independently oversees and manages the state’s financial resources with integrity and transparency to build trust. Controller Cohen is responsible for accountability and disbursement of the state’s financial resources. She has independent auditing authority over government agencies that spend state funds. The Controller is a member of numerous financing authorities, and fiscal and financial oversight entities including the Franchise Tax Board. She also serves on the boards for the nation’s two largest public pension funds. Follow the California State Controller’s Office on X, Facebook, and YouTube at @CAController and on Instagram at @CaliforniaController.

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