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POLITICSCalMatters·10h ago

The billionaire tax could be defeated by two other tax measures. Here’s how

Photo · CalMatters
AI TLDR · GEMINI

California voters will decide on a billionaire tax, but the measure faces potential defeat due to two competing, billionaire-funded initiatives designed to undermine it.

California voters will soon decide whether to tax billionaires — but even if a majority says yes, the measure could still lose to either of two billionaire-funded measures designed to cancel it out. The billionaire-backed group Building a Better California designed two countermeasures to undermine the wealth tax and create multiple ways to defeat it. […]

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