“California’s Democratic Party has endorsed the state’s proposed billionaire tax, marking a win for its advocates three months before Californians vote on the measure,” the Wall Street Journal reports.
“At a weekend meeting of hundreds of party officials, the tax proposal on Sunday cleared the 60% threshold needed to overcome objections and win the endorsement, according to a party spokeswoman. California voters will decide whether to approve or reject the ballot initiative in November. If it takes effect, the state’s roughly 200 billionaires would pay a 5%, one-time levy.”
Save to Favorites