California's Governor Gavin Newsom vetoed Assembly Bill 1840, emphasizing the need for careful consideration of existing program funding given the finite resources and budget constraints.
In his veto message, Newsom stated, 'Given the finite funding available for [the CalHFA] programs, expanding program eligibility must be carefully considered within the broader context of the annual state budget.'
During a news conference, Newsom explained that the bill he rejected was from a program that 'had no money,' highlighting the importance of fiscal responsibility.
The CalHFA stated that no new applications for the Dream for All program are being accepted as all funding has already been allocated.
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