Proposal to introduce one-time tax of 5% will go to voters in November after backers decline to withdraw measure California’s billionaire tax, explained: what you need to know California voters will get to decide in November whether billionaires should pay a one-time 5% tax, after a deadline passed on Thursday for its backers to withdraw the measure. “Enthusiasm for the billionaire tax is unlike anything we have seen before,” Debru Carthan, vice-president of the union sponsoring the measure, said during a Thursday-evening press conference. “The billionaire tax will be on the November ballot and we intend to win.” The so-called billionaire tax is among the highest-profile ballot efforts in the US this year taking aim at rising wealth disparities, and is set to be one of the state’s most contentious ballot initiatives. It has already spurred tech moguls to pour millions of dollars into attempts to stop the proposal. State officials announced last week that the California Billionaire Tax Act had reached enough signatures to qualify for the ballot, but the elections process allowed the coalition backing the tax until 5pm on Thursday to decide whether to move forward with it. Negotiatio
Jun 26, 2026 → Jun 26, 2026
Proposal to introduce one-time tax of 5% will go to voters in November after backers decline to withdraw measure California’s billionaire tax, explained: what you need to know California voters will get to decide in November whether…
Read original at The Guardian →1 updates from 1 source.
Proposal to introduce one-time tax of 5% will go to voters in November after backers decline to withdraw measure California’s billionaire tax, explained: what you need to know California voters will get to decide in…
Read original at The Guardian →What this story stands on. Tier 0 is a primary record or the subject's own words; higher tiers must be attributed, never stated as bare fact.
Proposal to introduce one-time tax of 5% will go to voters in November after backers decline to withdraw measure California’s billionaire tax, explained: what you need to know California voters will get to decide in November whether…
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