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Newsom backs constitutional ban on state wealth taxes
Original: Newsom backs wealth tax ban
California Governor Gavin Newsom has come out in support of a ban on wealth taxes, breaking with many in his own party who back taxing the ultra-rich. The stance puts him at odds with progressive Democrats and is being read as a signal ahead of a possible 2028 presidential run. Reaction is split between moderates welcoming the shift and progressives criticizing it.
Why now: Newsom is seen as a likely 2028 presidential contender, so his break with progressive tax policy is drawing attention
Gavin NewsomCaliforniaDemocratic Party
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