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California rejects billionaire tax proposal in win for executives, Newsom

The Hill·November 7, 2026·1 min read
California rejects billionaire tax proposal in win for executives, Newsom

California voters are rejecting a wealth tax on billionaires, with 54 percent against and 46 percent for, according to Decision Desk HQ. The measure's defeat marks a win for tech and business executives who spent hundreds of millions opposing it, and for Governor Newsom.

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