Newsom said he remained opposed to California's proposed billionaire tax which will go before voters this November.

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

California’s governor, who is considering a White House run, proposed an expansive national wealth tax last week, as well as an initiative to give Americans a stake in AI.

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