California governor calls for national tax on super-wealthy and suggests the US should own a stake in AI companies

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