Rep. Young Kim Blasts Gavin Newsom Over Millions Lost to Fraud and Waste in California

Tax Relief and Economic Policy

• 💡 Representative Young Kim thanked Secretary Besson for delivering historic salt relief totaling $40,000, which will benefit constituents in Orange, Riverside, and San Bernardino counties.
• 💰 The Working Families Tax Cuts Act, with its four-times increase in the SALT deduction, is expected to provide supercharged tax returns to help American families recover from previous economic policies.
• ⚠️ Kim expressed disappointment that California's state revenue authorities are not mirroring federal provisions like no tax on tips, overtime, or social security, and deductibility of auto loans.

Community Development Financial Institutions

• 🏦 Kim expressed relief that staff at the Community Development Financial Institution (CDFI) fund were restored, emphasizing its critical role in serving communities lacking traditional banking services.
• 🎯 The focus for the CDFI fund moving forward will be on community revitalization, driving reforms, implementing new restrictions on fund usage, and adhering to the program's statutory intent to improve lives.

California Fraud and Waste Investigations

• 🔍 Kim highlighted significant issues of fraud, waste, and abuse in California, citing over $32 million in unemployment fraud and $13 million stolen from students due to AI-generated ghost enrollments.
• 🚨 She described California as becoming a