Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Justin Sullivan via Getty Images

California secured a more than $75 billion budget surplus after boosts from a thriving stock market and tax revenues, Gov. Gavin Newsom (D) said Monday.

Why it matters: Last year, the governor's office projected a budget deficit of up to $54 billion due to the fallout from the COVID-19 pandemic — about a quarter of the entire budget. On Monday, Newsom laid out his plan to use the surprise surplus to fund what he called the biggest economic recovery package in state history.

Details: Newsom's $100 billion proposal would provide $12 billion more in direct payments to residents: $600 for most people along with an additional $500 for families with dependents.

  • The money would go to families earning less than $75,000 annually.
  • The package would also assist renters, covering 100% of their past-due rent.

What to watch: Newsom will announce the rest of his proposal in an address on Friday.

What he's saying: "This is just the first of many announcements this week across the spectrum that amplify the narrative of this state truly roaring back," Newsom said at an address.

Go deeper

Updated 10 mins ago - Politics & Policy

51 people unaccounted for after Miami-area condo collapse

A view of the crumpled portion of the 12-story condo tower on June 24 in Surfside, Florida. Photo: Joe Raedle/Getty Images

A massive search and rescue operation is underway after a portion of a 12-story condo building in Surfside, Florida, collapsed early Thursday morning, according to AP.

The latest: 51 people who were "supposedly residing" in the building at the time of the collapse have not yet been accounted for, Miami-Dade County Commissioner Sally Heyman said on CNN Thursday morning.

Pacific Northwest soon to be ground zero for record-shattering heat

Computer model projection showing the unusually strong heat dome over the Pacific Northwest on Sunday. (PivotalWeather).

A heat wave is bringing unprecedented high temperatures to the Pacific Northwest — a region of the country typically cooled by the ocean, rather than central air conditioning. The heat will begin Friday and last into early next week.

Why it matters: The heat wave will shatter monthly and all-time temperature records in the Pacific Northwest. Some of the records could break the old milestones by several degrees.

Dan Primack, author of Pro Rata
37 mins ago - Economy & Business

The crypto kings

Illustration: Shoshana Gordon/Axios

Bitcoin is largely a wash for 2021, but that isn't dimming crypto optimism among venture capitalists or their deep-pocketed limited partners.

Driving the news: Andreessen Horowitz this morning announced that it's raised $2.2 billion for its third crypto-focused fund.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!