California voters reject measure to tax the wealth of billionaires
Also reported by Al Jazeera, BBC US, CBS News
Summary
California voters rejected a proposed one-time tax on the wealth of billionaires. The measure faced a contentious campaign, with prominent technology leaders spending heavily to oppose it.Key Facts
- The proposal would have applied to California residents with a net worth above $1 billion.
- It called for a one-time tax of 5% on those residents’ wealth.
- Voters rejected the measure.
- The campaign drew significant spending from prominent technology leaders opposed to the tax.
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