Odds that a proposed billionaire tax appears on California ballots plunge on prediction markets
Odds that a proposed billionaire tax is on California's ballot dropped after reports noted that Gov. Gavin Newsom is pushing to stop the proposal.
TL;DR
- Chances of a proposed billionaire tax appearing on California's ballot decreased from 88% to 35.5% on prediction markets.
- Governor Gavin Newsom is reportedly pushing to prevent the tax measure from reaching the November ballot.
- The proposal, backed by SEIU-UHW West, seeks a one-time 5% tax on billionaires' net worth to support healthcare.
- The union submitted over 1.5 million signatures, exceeding the 875,000 requirement.
- Newsom's reported opposition comes as he considers a presidential run and accuses Donald Trump of political targeting.