Will California’s billionaire tax proposal make it to ballots?
California's billionaire tax proposal faces uncertainty despite surpassing signature requirements for the November ballot. Proponents reduced the tax from 5% to 2%, while tech moguls, including Sergey Brin and Eric Schmidt, vigorously oppose the measure. Governor Gavin Newsom seeks to negotiate a withdrawal deal before the June 25 certification deadline.
Summary by OZbrief Editorial · The Guardian Australia · Source
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Published 23 Jun 2026, 12:45 UTC · Updated 23 Jun 2026, 14:00 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia. Editorial policy · Corrections
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