PoliticsNewsAPI
Newsom begs Californians to vote 'no' on billionaire's tax in face of mass exodus, pitches nationwide tax hike - Fox News
Overview
California Gov. Gavin Newsom urged voters to reject a one-time 5% tax on billionaires after the measure was placed on the November ballot, warning it would prompt wealthy residents and businesses to leave the state. Supporters say the levy could raise roughly $100 billion to help cover Medicaid funding shortfalls. At the same time, Newsom pitched a nationwide minimum tax on billionaires and closing tax loopholes, signaling he prefers federal reforms over the state ballot measure.
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