California's Billionaire Tax Proposal Moves Closer to Ballot
A proposal to impose a one-time 5% tax on billionaires in California is on track to qualify for the November ballot. Backed by the Service Employees International Union Healthcare Workers West, the tax aims to generate $100 billion to offset federal healthcare funding cuts. The proposal has garnered significant attention, with supporters collecting over 1.5 million signatures. However, it faces opposition from Governor Gavin Newsom and Silicon Valley leaders, who warn it could drive wealthy residents out of the state. 
