✉news WorldPolitics first seen 2 d ago, last 13 h ago, peak #6
Newsom backs measure to kill California billionaire tax
Original: Gavin Newsom backs measure to kill the billionaire tax and ban future wealth taxes
California Governor Gavin Newsom has endorsed a measure that would eliminate the state's proposed tax on billionaires' unrealized gains and bar future wealth taxes. The move, reported by CalMatters and LAist, puts Newsom at odds with progressive allies who back the tax and signals a shift toward positioning himself as a moderate ahead of a potential presidential run.
Why now: Newsom's break with progressive wealth-tax supporters has major implications for California politics and his national ambitions.
Evidence
- Gavin Newsom backs measure to kill the billionaire tax and ban future wealth taxes · LAist
- Gavin Newsom backs measure to kill the billionaire tax and ban future wealth taxes · CalMatters
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