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California voters reject one-time tax proposal on billionaires' wealth

California voters have rejected a proposal for a one-time 5% tax on billionaires' overall wealth. The tax aimed to include their ownership stakes in companies and had divided opinions among Democrats.

Our neutral summary

California voters have rejected a proposal for a one-time 5% tax on billionaires' overall wealth. The tax aimed to include their ownership stakes in companies and had divided opinions among Democrats.

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Original Headline

California voters defeat billionaire tax proposal that divided Democrats

Neutral Headline

California voters reject one-time tax proposal on billionaires' wealth