2028 Cycle
California’s Billionaire Tax Measure Fuels Attack Ads Against Newsom
PN Team • 1 week ago
Backers of California's Proposition 40, a November ballot measure that would impose a 5% tax on billionaires' assets to offset federal health care funding cuts, are launching ads in early presidential primary states attacking Gov. Gavin Newsom for opposing it. Funded by SEIU-United Healthcare Workers West and former Stripe engineers Saikat Chakrabarti and Ross Boucher, the ads accuse Newsom of protecting billionaire donors, including Stewart Resnick, Chris Larsen, Eric Schmidt and Michael Moritz, and are set to run in South Carolina, Nevada, New Mexico, Virginia and New Hampshire. Newsom says wealth taxes should be federal, not state-level. The measure has divided Democrats; it's backed by the state party and Sen. Bernie Sanders.
Sources:
Sentiment
- Gavin Newsom Portrayed as opposing a popular tax measure and accused of protecting billionaire donors.
- Democratic Party (United States) Noted as backing the ballot measure, a factual policy alignment without strong praise or blame.
- California Setting of the ballot measure, mentioned factually without reputational framing.