California billionaire tax proposal has enough support to get on the November ballot, official says
Supporters say the levy would raise $100 billion for healthcare, food assistance and education as California billionaires and trusts face a one-time tax of up to 5%.
- On Wednesday, California Secretary of State Shirley Weber confirmed the billionaire tax initiative qualified for the November ballot after organizers submitted sufficient valid signatures.
- The Service Employees International Union-United Healthcare Workers West is backing the measure, arguing it will generate $100 billion to offset federal Medicaid cuts from the 'One Big Beautiful Bill Act'.
- Tech executives including Google co-founder Sergey Brin have contributed more than $82 million to opposition efforts, arguing the tax would drive wealthy residents and businesses out of California.
- California Gov. Gavin Newsom is reportedly negotiating a last-minute deal to pull the initiative before the June 25 ballot finalization deadline.
- Early polling reveals a divided electorate, with supporters emphasizing the need for healthcare funding while critics warn of the economic risks associated with potential wealth flight.
49 Articles
49 Articles
Billionaire Tax Petition Signatures Confirmed, and Coalition Forms to Battle Against the Ballot Measure
The billionaire tax, aka the California Billionaire Tax Act, has officially garnered enough signatures to head to the November ballot, and you can rest assured the billionaire class is most unhappy about it — and so is Newsom.The state of California announced Wednesday that it had confirmed enough signatures on the petition for the billionaire tax to head to the ballot.Petitioners had submitted well more than the 874,641 signatures needed to qua…
Nolte: California Billionaire Tax Qualifies for November Ballot
This is great news: A ballot measure that will hit California billionaires with a one-time tax of five percent on all of their assets has just qualified to appear on the November 3 ballot. The post Nolte: California Billionaire Tax Qualifies for November Ballot appeared first on Breitbart.
Proposed California Billionaire Tax Clears Key Hurdle
“California’s proposed billionaire tax has officially cleared the signature hurdle to qualify for the November ballot, setting up a high-stakes showdown between the healthcare workers’ union pushing the levy and top political, business and labor leaders fighting it,” the Wall Street Journal reports. “Proponents of the novel wealth tax gathered an estimated 980,438 valid signatures from registered voters, California’s secretary of state said late…
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