Newsom endorses ballot measure that would cancel out billionaire tax—and ban future wealth taxes

Filed by Elara Myst

 “He’d rather millions of children and families lose their healthcare than ask a couple hundred billionaires to finally pay their fair share.”Jake JohnsonOct 11, 2026California Gov. Gavin Newsom ramped up his opposition to a proposed tax on the state’s billionaire residents on Friday by endorsing a competing ballot measure that would both cancel out the billionaire wealth tax initiative and prohibit any new taxes on the ownership of financial assets or other personal property.&...