Proposal to introduce one-time tax of 5% will go to voters in November after backers decline to withdraw measure

Californians will vote in November on a controversial proposal to impose a one-time tax on billionaires to help fund federal funding cuts to healthcare for low-income people.

California's 2026 Billionaire Tax sounds simple — but experts warn the ripple effects could cost non-billionaires via lost revenues, higher taxes, & corporate departures.

Proposal to introduce one-time tax of 5% will go to voters in November after backers decline to withdraw measure

California's billionaire tax heads to the November ballot despite Newsom's opposition. Tax passing at 35% YES.

"The fact that the ultra-wealthy and billionaire-backed politicians like Gov. Newsom nearly succeeded in killing it is the single best argument for why we need to tax billionaires…

The ballot measure will decide if California will impose a one-time 5% tax on its billionaire residents, an idea that has been controversial.

California voters will consider a controversial proposal in November to temporarily raise taxes on billionaires after the labor union backing the measure announced Thursday it…

Newsom urges Californians to reject billionaire tax on 2026 ballot. Tax passing at 35.5% YES.

The proposed measure, which would impose a one-time 5% wealth tax on California billionaires, is opposed by Gov. Gavin Newsom and other top lawmakers in the state.

Gov. Gavin Newsom is proposing a national billionaires' tax, which comes a day after the state wealth tax measure he opposes qualified for the November ballot.

Research shows that past tax increases by states have not led to wealthy residents leaving.

California removed a tax cap measure from the November ballot. Billionaire wealth tax passage in 2026 now at 35.5% YES.

Billionaire's are bracing for California's wealth tax, setting up for a pricy ballot fight and likely legal challenges.