California Billionaire Tax Heads to November Ballot Amid Budget Worries
TL;DR Summary
A labor-union–backed, one-time 5% tax on California billionaires’ assets is headed to the November ballot to offset federal healthcare funding cuts, drawing strong opposition from Gov. Newsom and major business/healthcare groups who warn it could destabilize the state’s budget and spur billionaire exit; two rival “poison pill” measures could void the proposal even if voters approve, and supporters gathered about 1.6 million signatures to qualify.
Topics:nation#ballot-measure#budget-volatility#california#california-politics#healthcare-funding#wealth-tax
- Controversial billionaire tax proposal will appear on November ballot Los Angeles Times
- California’s proposed billionaire tax: what you need to know The Guardian
- California wealth tax fight moves to voters Politico
- California Will Vote on a Billionaire Tax. Billionaires Aren’t Happy. The New York Times
- Your November ballot: See the 14 measures California voters will decide CalMatters
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