California rejects billionaire tax proposal in win for executives, Newsom
Summary
California voters rejected a proposal to tax the wealth of billionaire residents, according to a Decision Desk HQ projection. The measure’s opponents, including technology and business executives who spent hundreds of millions of dollars campaigning against it, prevailed.Key Facts
- Decision Desk HQ projected that California voters rejected the billionaire wealth tax proposal.
- DDHQ’s analysis showed 54 percent voted against the measure and 46 percent voted for it.
- The proposal would have imposed a wealth tax on billionaire residents of California.
- Technology and business executives spent hundreds of millions of dollars opposing the measure.
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