CA billionaire tax faces legal challenge, Newsom opposes it
- Posted on June 26, 2026
- By Fox News
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- 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.
