Newsom Moves to Block California Billionaire Tax Before June 25 Vote Deadline
Updated
Updated · Bloomberg · Jun 15
Newsom Moves to Block California Billionaire Tax Before June 25 Vote Deadline
3 articles · Updated · Bloomberg · Jun 15
Summary
A June 25 deadline is driving Governor Gavin Newsom’s last-minute push to keep a proposed California billionaire tax from ever reaching voters.
In a call last month, Newsom told a major Democratic donor the levy would be negotiated away before that deadline, according to a person familiar with the private conversation.
The effort amounts to a pressure campaign inside California Democratic circles to sink the measure before it can qualify for the ballot.
If Newsom succeeds, voters would be denied a direct say on a tax proposal aimed at billionaires, underscoring the governor’s influence over high-stakes fiscal fights.