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CA billionaire tax faces legal challenge, Newsom opposes it

Posted on June 26, 2026
By Fox News
0 Views
1 min read

CA billionaire tax faces legal challenge, Newsom opposes it

FOX Business Host Cheryl Casone discusses California's proposed one-time 5% tax levy on billionaires. California Gov. Gavin Newsom reportedly opposes the tax measure, which would retroactively apply to residents as of January 1, 2026.