Newsom Vows to Stop Proposed Billionaire Tax in California

[demmiblue]

Source: NYT

Gov. Gavin Newsom said he was working behind the scenes to block a proposed tax on billionaires’ wealth and was committed to defeating the measure if it reached the ballot.

Gov. Gavin Newsom vowed on Monday to stop a proposed wealth tax in California, saying that its mere introduction had already hurt the state by driving some billionaires to relocate and take their tax dollars with them.

Mr. Newsom, a Democrat, said in an interview with The New York Times that he had been relentlessly working behind the scenes against the proposal, and that he would fight the measure if it reached the November ballot.

“This will be defeated — there’s no question in my mind,” Mr. Newsom said.

“I’ll do what I have to do to protect the state,” he added.

Read more: https://www.nytimes.com/2026/01/13/us/newsom-billionaire-tax-california.html

---