California’s Billionaire Tax Has the Signatures

“Backers of the proposed California billionaire tax believe they have gathered enough signatures to get the initiative on the November ballot, according to people familiar with the campaign, likely kicking off a bruising battle over the initiative,” the Wall Street Journal reports.

“More than 1.5 million people have signed a petition to get the one-time, 5% wealth tax on statewide ballots in November, the people said. They said they expect that will be more than enough to clear the required 875,000-signature threshold, even after accounting for illegible or invalid signatures.”