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June 26, 2026

Gavin Newsom Reiterates Opposition to California Billionaire Tax While Advocating for National Tax

  • Governor Gavin Newsom has reiterated his strong opposition to the California Billionaire Tax, which is set for a vote in November, while advocating for a national billionaire tax.
  • In a recent statement, Newsom emphasized the need for a federal tax overhaul to address wealth inequality, arguing that state-level measures could harm California's economy.
  • The California Billionaire Tax, imposing a one-time 5% tax on billionaires, remains on the ballot despite Newsom's concerns about its potential impact on wealthy residents.

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