Newsom Endorses Prop 42 to Block California Billionaire Tax, Defying Democratic Party
Gov. Gavin Newsom endorsed Proposition 42, a measure that would ban future wealth taxes and nullify the proposed billionaire tax (Prop 42), aligning him with tech donors but against his own party. While Prop 40 faces a slim majority in polls, opponents have raised over $300 million to defeat it, including a massive ad campaign. Critics argue the move protects billionaire interests at the expense of healthcare funding, while Newsom advocates for a national wealth tax instead.