Newsom backs California ballot measure that cancels out billionaire tax proposal

Source: thehill.com · Section: politics · Bias: Center · Published: Tue, 13 Oct 2026 03:00:52 GMT

California Gov. Gavin Newsom (D) endorsed a ballot measure that, if approved by voters, would cancel out the ballot measure proposal that would impose a one-time tax on the Golden State's billionaires. On Friday, Newsom endorsed Proposition 42, which would prohibit retroactive taxes imposed by Proposition 40, known as the Billionaire Tax Act, for any...

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