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LAistcites CalMattersApr 9, 2026

California billionaire tax is a no-brainer for progressive Democrats, right? Wrong

Assemblymember Chris Ward criticized the billionaire tax proposal as a one-time effort that fails to address California's broader revenue needs.

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California billionaire tax is a no-brainer for progressive Democrats, right? Wrong
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tl;dr

A proposed California ballot initiative to tax billionaires 5% has sparked a rift between labor unions and progressive lawmakers, who worry about its feasibility, potential for legal challenges, and narrow focus on healthcare funding.

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