California Democrats back billionaire tax, fueling intra-party clash with Newsom and Becerra
TL;DR Summary
At its San Diego convention, the California Democratic Party endorsed Proposition 40—a one-time 5% tax on about 200 billionaires, expected to raise around $100 billion for healthcare funding—over the objections of Gov. Newsom and gubernatorial candidate Becerra, highlighting a split within the party as the measure heads to the November ballot.
- California Democrats defy Gavin Newsom and Xavier Becerra as they vote to back billionaires tax New York Post
- California Democratic Party endorses billionaire tax Politico
- Silicon Valley donors poured $194 million into California politics. Now comes the wealth tax fight The Mercury News
- California’s proposed billionaire tax exposes rifts among labor unions Los Angeles Times
- California Young Democrats, key party committee back billionaire wealth tax Sacramento Bee
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