California Democrats endorse a billionaire tax for the November ballot. Tax passes in 2026 at 30.5% YES.

California Democrats endorse a billionaire tax for the November ballot. Tax passes in 2026 at 30.5% YES.

California Democrats endorsed a billionaire tax measure for the November ballot despite opposition from Gov. Gavin Newsom.

The proposal has garnered support from the progressive flank, but has also exposed divisions within the Democratic Party.