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

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…

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.

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.

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