Global Politics Report Editorial
Newsom backs California ballot measure that cancels out billionaire tax proposal
California Gov. Gavin Newsom (D) endorsed a ballot measure that, if approved by voters, would cancel out the ballot measure proposal that would impose a one-time tax on the Golden State’s billionaires. On Friday, Newsom endorsed Proposition 42, which would prohibit retroactive taxes imposed by Proposition 40, known as the Billionaire Tax Act, for any…
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Source: The Hill
Politics desk: Election
Published: Oct. 12, 2026 at 11:00 PM ET
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Original source: The Hill