California’s Billionaire Tax Battle | Los Angeles News

California’s Proposition 40, a bold plan to tax billionaires at 5% to fund healthcare, is sparking fierce debate. While progressive leaders and unions back it as a lifeline for public programs, Governor Newsom and key Democrats warn it could drive away top earners and destabilize the economy. Meanwhile, a major opposition push led by tech billionaires like Sergey Brin—backed by a $5 million donation—is mobilizing everyday workers to lead the campaign against the tax, turning this ballot measure into a high-stakes battle over wealth, fairness, and the future of California’s economy. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8e4828d1946f3504 Presented by The Plant Daddies — rare specimen trees, living art, and hand-carved limestone vessels and fountains for extraordinary spaces. Showrooms in Los Angeles and Irvine. Listeners of Los Angeles News Today receive 10% off with code LANEWS10. theplantdaddies.com/lanews