Newsom begs Californians to vote 'no' on billionaire's tax in face of mass exodus, pitches nationwide tax hike
California's billionaire tax is officially added to November ballot despite Gov. Newsom warning wealthy residents will flee to Texas or Florida.
Opening excerpt (first ~120 words) tap to expand
Gavin Newsom Newsom begs Californians to vote 'no' on billionaire's tax in face of mass exodus, pitches nationwide tax hike The governor called for a national billionaire tax instead, saying the fight 'belongs at the federal level' By Peter Pinedo Fox News Published June 26, 2026 1:26pm EDT Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video CA billionaire tax faces legal challenge, Newsom opposes it FOX Business Host Cheryl Casone reports on California's controversial billionaire tax, a one-time 5% levy on residents worth over $1 billion. This measure, which would retroactively apply from January 1, 2026, is opposed by Gov. Gavin Newsom. Critics question its legality and potential for billionaires to exit the state.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Fox News.
Discussion
0 commentsMore from Fox News
