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You are here: Home / State House / Newsom Vows to Stop Proposed Billionaire Tax in California

Newsom Vows to Stop Proposed Billionaire Tax in California

January 13, 2026 at 5:54 am EST By Taegan Goddard Leave a Comment

“Gov. Gavin Newsom vowed on Monday to stop a proposed wealth tax in California, saying that its mere introduction had already hurt the state by driving some billionaires to relocate and take their tax dollars with them,” the New York Times reports.

“The governor has long opposed a wealth tax because of concerns that it would stifle innovation in California, where the booming tech industry has sent state revenues soaring and driven the economy for years.”

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goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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