Source: Common Dreams
“The California Democratic Party on Sunday endorsed a state ballot measure that would impose a one-time, 5% wealth tax on billionaire residents, a popular initiative that has drawn opposition from Democratic Gov. Gavin Newsom and ultra-rich corporate executives who are spending big to defeat it. California Democrats’ executive board voted 145-90 on Sunday to endorse the billionaire wealth tax, which will appear on the November ballot as Proposition 40. The Sacramento Bee reported that ‘delegates and observers erupted into cheers’ following the vote, which barely cleared the 60% threshold needed for a formal endorsement. Dave Regan, president of SEIU-United Healthcare Workers West, the union leading the campaign for the ballot initiative, said the California Democratic Party’s endorsement of the proposal ‘puts to rest the idea that California Democrats are not united by the billionaire tax; they are’.” (08/03/26)
https://www.commondreams.org/news/california-democrats-billionaire-tax