30-YR FIXED7.40%▬ 0.0015-YR FIXED6.71%▼ -0.0210-YR TREASURY5.10%▼ -0.0930-YR TREASURY5.43%▼ -0.095-YR TREASURY4.91%▼ -0.092-YR TREASURY4.77%▼ -0.05FED FUNDS4.00%▬ 0.00SOFR3.88%▼ -0.01DOW52,002▼ -175S&P 5007,659▼ -85Freddie Mac · U.S. Treasury · Federal Reserve via FRED®30-YR FIXED7.40%▬ 0.0015-YR FIXED6.71%▼ -0.0210-YR TREASURY5.10%▼ -0.0930-YR TREASURY5.43%▼ -0.095-YR TREASURY4.91%▼ -0.092-YR TREASURY4.77%▼ -0.05FED FUNDS4.00%▬ 0.00SOFR3.88%▼ -0.01DOW52,002▼ -175S&P 5007,659▼ -85Freddie Mac · U.S. Treasury · Federal Reserve via FRED®
Monday, October 19, 2026Bay Area Market: Coverage updated daily

Even blue California wants lower taxes and smaller government

Scheduling note: WhatMatters will rest Labor Day weekend and return to your inboxes Tuesday. We live in a blue state that elects Democrats year after year. But a slim majority of us would prefer a smaller government and lower taxes.  That’s one of the key findings from an August report by the Public Policy Institute…

Bay Area housing and community
Curated News BriefBased on original reporting by CalMatters Housing (September 4, 2026). The summary below is the Journal’s; the local analysis is original commentary by Omar Murillo.

According to a recent report from the Public Policy Institute of California, there's something interesting happening in our state's political landscape. While California consistently votes Democratic in elections, a slim majority of voters actually prefer smaller government and lower taxes. This finding could have real implications when voters head to the polls this November to decide on several tax-related ballot measures, including a proposal for a one-time tax on billionaires to fund healthcare.

The research examined 46 distinct regions across California and found some shifting geography when it comes to conservative politics. Orange County, which was historically the birthplace of California's modern conservative movement, has given way to the far north as the state's conservative heartland. The report notes that this includes areas northeast of Sacramento and the Red Bluff and Redding regions as the center of conservative thought in California today.

The Bay Area stands out in some interesting ways compared to the rest of the state. We lean more liberal than most of California, and interestingly, we're the most pessimistic about the broader economy. Yet despite that pessimism, Bay Area residents report the least concern about paying their bills. This suggests our affordability pressures, while real, aren't hitting people quite as hard as they are in other parts of California.

The report also found that most Californians, regardless of region, see immigrants as beneficial and support state action on climate change. These broader values seem fairly consistent across our diverse state, even as voters express mixed views about the size and scope of government.

What I am seeing locally aligns with some of what this research suggests. Even in a progressive region like the Bay Area, folks are feeling the squeeze from taxes and want more value from government services. At the same time, our market dynamics are unique, and people here recognize that immigration and climate action are important to our long-term prosperity. It's a nuanced picture that goes beyond simple left-right politics.