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2020 candidates must release tax returns to appear on California primary ballot. Photo: Chen Mengtong/China News Service/VCG/Getty Images

California Gov. Gavin Newsom signed a bill into law on Tuesday requiring all presidential and gubernatorial candidates to release their 5 most recent years' worth of tax returns in order to appear on the state's primary ballot.

Why it matters: The move makes California the first state to demand the disclosure from candidates, according to reporter Yashar Ali. If a contender refuses, they will not be included on the primary ballot. The law was passed in hopes of pressuring President Trump to make his filings public — a battle House Democrats and other states have thus far failed to win.

The law will not impact a candidate's ability to be listed on the ballot in the general election.

The big picture: Trump could continue to avoid sharing his personal finances by opting out of the California primary next March.

  • The AP writes: "[H]e likely won’t need California’s delegates to win the Republican nomination." Currently, former Massachusetts Gov. Bill Weld is Trump's only GOP challenger.
  • Already, 10 2020 Democrats have provided their tax disclosures.

Reality check: Trump only won 31.5% of the votes in California in the 2016 election. He is unlikely to win the left-leaning state in the 2020 general election regardless of the new law.

What's next: The law is expected to be challenged in court. The president's personal attorney Jay Sekulow wrote, "the State of California’s attempt to circumvent the Constitution will be answered in court," per Politico.

Go deeper

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

The mental health deal boom

Illustration: Sarah Grillo/Axios

The positive social media response to Simone Biles withdrawing from Olympic competition highlights how the artificial line between health care and mental health care is finally beginning to dissolve. And startup investors have taken notice.

By the numbers: Venture capital investments in mental health startups rose 72.6% between Q1 2020 and Q1 2021, per CB Insights.

2 hours ago - Health

Israel to offer third COVID vaccine dose to people over 60

A woman receives her third dose of COVID19 vaccine at Sheba Medical Center on July 14, 2021 in Israel. Photo: Amir Levy/Getty Images

Israel will begin offering a third shot of the coronavirus vaccine to people over the age of 60 starting Sunday, Haaretz reports.

Why it matters: Israel will become the first country to begin giving booster shots, per Haaretz. The country will offer doses to those over 60 who received their second dose at least five months ago.

Updated 2 hours ago - Economy & Business

U.S. economy grew at a 6.5% rate last quarter, missing expectations

Contractors work on a home under construction. (Photo: Micah Green/Bloomberg via Getty Images)

The U.S. economy grew at an annualized 6.5% rate last quarter, the government said Thursday — slower than the 8.4% economists expected.

Why it matters: It came as the economy made strides toward further reopening, vaccinations rolled out and government stimulus bolstered spending. But supply crunches held the pace of growth back.