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Billionaire tax backers offer to cut proposed levy against California’s wealthiest — but Gavin Newsom isn’t on board

Billionaire
New York Post Fews App News Provider
Fews App Post Time há 2d

Gov. Gavin Newsom is refusing to back down after organizers behind California’s controversial billionaire tax initiative on Thursday publicly challenged him to support a scaled-back version of the proposal — arguing a one-time levy on the state’s wealthiest residents is needed to prevent what they called a looming healthcare crisis. In an open letter, the Billionaire Tax Now Coalition — sponsored by labor union Service Employees International Union-United Healthcare Workers West — offered to reduce the proposed tax from 5% to 2% if Newsom agrees to support the legislation as a temporary solution to offset looming federal healthcare cuts.

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