California Democratic Party backs billionaire tax despite internal opposition
The California Democratic (CADEM) Party on Sunday announced that it backs a ballot measure to charge the state’s 200 billionaires with a one-time, five-percent tax on their net worth, a measure that has faced opposition from California Democrats, including the state's governor. The state party's executive board narrowly voted to back Proposition 40, known as...
The California Democratic Party has announced its support for a ballot measure that would impose a one-time, 5% tax on the state's 200 billionaires' net worth. This decision was made despite opposition from some California Democrats, including the state's governor, according to The Hill. The measure is known as Proposition 40.
The party's executive board narrowly voted to back the proposition. Details about the potential impact of the tax and how the revenue would be used are not provided in the reports.
There is no direct connection mentioned between this development and other news, such as Michigan's Democratic primary or issues within the Democratic National Committee.
Brief written by urgent.news from The Hill, The National UAE, Associated Press, ERR News Estonia — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
