A controversial proposal in California to temporarily increase taxes on billionaires has enough signatures to qualify for the November ballot, a labor union backing the measure said Monday.
Election 2026: California billionaires tax
Coverage of efforts to pass Proposition 40, a one-time tax on California billionaires in the November 2026 election.
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Bernie Sanders warns of ‘billionaire class’ as California wealth tax fight intensifies
“They believe they have the divine right to rule,” U.S. Sen Bernie Sanders told a crowd in Los Angeles Wednesday night. A proposed ballot measure would tax billionaires’ net worth by 5% for health care and schools, but top Democrats say it will drive them away.
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Bernie Sanders and Gavin Newsom become adversaries over push to tax California billionaires
Vermont Sen. Bernie Sanders will be in Los Angeles on Wednesday to campaign for a proposed tax on billionaires, putting him at odds with California Gov. Gavin Newsom.
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Proposed billionaires tax in California rattles Silicon Valley, entangles Newsom
A proposed tax on billionaires in California has ignited a political uproar in Silicon Valley, with tech titans threatening to leave the state while Democratic Gov. Gavin Newsom maneuvers to defeat a levy that he fears will lead to an exodus of wealth.
