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Newsom Endorses Ballot Measure That Would Cancel Out Billionaire Tax—and Ban Future Wealth Taxes

California Gov. Gavin Newsom ramped up his opposition to a proposed tax on the state's billionaire residents on Friday by endorsing a competing ballot measure that would both cancel out the billionaire wealth tax initiative and prohibit any new taxes on the ownership of financial assets or other personal property. "He’s showing California his true…

Sources (1)· Oct 11, 6:27 PM

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Common Dreams· Oct 11, 6:27 PMNewsom Endorses Ballot Measure That Would Cancel Out Billionaire Tax—and Ban Future Wealth Taxes

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Newsom backs California ballot measure that cancels out billionaire tax proposalCalifornia Gov. Gavin Newsom (D) endorsed a ballot measure that, if approved by voters, would cancel out the ballot measure proposal that would impose a one-time tax on the Golden State's billionaires. On Friday, Newsom endorsed Proposition 42, which would prohibit retroactive taxes imposed by Proposition 40, known as the Billionaire Tax Act, for any...

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Newsom backs California ballot measure that cancels out billionaire tax proposalCalifornia Gov. Gavin Newsom (D) endorsed a ballot measure that, if approved by voters, would cancel out the ballot measure proposal that would impose a one-time tax on the Golden State's billionaires. On Friday, Newsom endorsed Proposition 42, which would prohibit retroactive taxes imposed by Proposition 40, known as the Billionaire Tax Act, for any...

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Gavin Newsom backs measure to kill the billionaire tax and ban future wealth taxesThe governor announced his positions on most of the 14 propositions on the November ballot.

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Newsom doubles down on opposition to California's billionaire taxGov. Gavin Newsom just got behind Proposition 42, which, if passed, would act as a kill switch for the billionaire wealth tax.

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California’s Landmark Wealth Tax May Be Running Out of SteamCalifornia’s Billionaire Tax ballot initiative led in early polls, but opposition from Gavin Newsom and Xavier Becerra, along with heavy ad spending against it, is taking a toll. It’s a tough situation for Newsom.

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Mark Cuban warns California billionaire tax could hurt investmentMark Cuban warns California's proposed billionaire tax could drive investment and startup founders out of the state amid a clash with Rep. Ro Khanna over the wealth tax.

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California Gov. Gavin Newsom signs laws to protect workers from AI risksCalifornia Gov. Gavin Newsom has signed laws aimed at protecting workers from the risks of artificial intelligence. He also blasted President Donald Trump on Wednesday for not passing comprehensive AI regulations at a time when the industry's leaders are warning about the risks of the technology. He weighed in on other topics, including his deliberations…

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Mark Cuban’s Arguments Against The Proposed 5% CA Wealth TaxMark Cuban and Rep. Ro Khanna clashed over California Prop 40. Here are Cuban's 4 key arguments against the 5% billionaire wealth tax—and where Khanna pushes back.

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Progressive groups, unions announce wealth tax initiative aimed at 2028 Oregon ballotAiming to make up for lost revenue from federal benefit cuts, a coalition of powerful Oregon advocacy groups announced Thursday that they will launch a signature-gathering campaign for the November 2028 election to approve a wealth tax on some of the state’s richest households while cutting taxes for low-income residents.

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