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California will vote on billionaire tax

Politics The Hill By Finya Swai 26 Jun 2026 12:34 1 min read
California will vote on billionaire tax

California voters will decide in November whether to temporarily raise taxes for billionaires after the labor union backing the proposal announced Thursday that it will move forward with the controversial ballot initiative. The proposal, known as the California Billionaire Tax Act, would impose a one-time 5 percent tax on individuals with a net worth of...

California voters will decide in November whether to temporarily raise taxes for billionaires after the labor union backing the proposal announced Thursday that it will move forward with the controversial ballot initiative. The proposal, known as the California Billionaire Tax Act, would impose a one-time 5 percent tax on individuals with a net worth of...

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