California billionaire tax moves closer to November ballot: What to know [View all]
Source: Yahoo Finance
Backers of a proposed tax on California billionaires say they have collected enough signatures to bring the measure to a statewide vote this fall.
The labor union Service Employees International Union-United Healthcare Workers West (SEIU-UHW) says it is spearheading a tax on the state's ultra-wealthy to prevent hospital and clinic closures, protect healthcare jobs, and help fund K-14 public education and state food assistance programs.
Opponents say the tax would fuel an exodus of wealthy company founders and investors, spark job losses, and further weaken California's economy.
On Monday, supporters submitted more than 1.5 million signatures to election officials for the petition seeking a state vote on the billionaire tax. About 875,000 registered voters must be validated by June 24 to put the measure on the November ballot.
Read more: https://finance.yahoo.com/personal-finance/taxes/article/california-billionaire-tax-moves-closer-to-november-ballot-what-to-know-152556443.html
= new reply since forum marked as read