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Newsom backs 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, putting himself at odds with progressive Democrats who have pushed for new taxes on the ultra-rich. The move is drawing criticism from the left ahead of the 2028 presidential race, with commentators debating whether it signals a shift toward the political center.
Why now: Newsom is seen as a likely 2028 presidential contender, so his break with progressive tax policy is being read as a positioning move.
Gavin NewsomCaliforniaDemocratic Party
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