California Governor Gavin Newsom announced a proposal for a national tax targeting the wealthiest Americans on June 26, 2026. This announcement follows his objection to a billionaire tax that has been placed on California's November ballot. Newsom outlined his plan to combat increasing wealth inequality in an op-ed published on Substack.
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California Governor Newsom Proposes National Tax on Billionaires
California Governor Gavin Newsom has proposed a national tax on billionaires as a measure to address wealth inequality. This proposal comes after he objected to a billionaire tax that will appear on California's November ballot.
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Newsom calls for national billionaire tax
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California Governor Newsom Proposes National Tax on Billionaires