State of California

California Gov. Gavin Newsom said the $202 million grant signals the Biden administration's commitment to "clean, electrified high-speed rail into the heart of some of the largest and fastest growing cities in California."

State Controller Malia Cohen said she stepped up to help draft audit guidelines following a charter school fraud case that cost the state $400 million.

The procurement method fosters collaboration and allows flexibility to manage construction costs, proponents say.

California State Treasurer Fiona Ma announced the hiring of two new Stephanie Tom and Khaim Morton as deputy state treasurers.

The ruling striking down affirmative action may bring a fresh headwind to the higher education space, which already faces soft enrollment trends.

Facing revenue shortfalls, funding for Gov. Gavin Newsom's zero-emission efforts had been put on a waiting list.

Moody's boosted CalHFA's rating to Aa2, following a similar move by S&P in December.

The negative rating outlook comes less than a week after Gov. Gavin Newsom announced a budget shortfall of $31.5 billion.

The state seeks "long-term stable funding" to advance the nation's largest infrastructure project, which remains in slow motion after almost 15 years.

With strong reserve levels, states will be able to weather a revenue shortage this year, analysts said.