Newsom Proposes Billionaires Tax

Texas News Today | 2 Min News | The Daily News Now! · Jun 26, 2026 · 1m

Governor Gavin Newsom is unleashing a bold federal wealth tax agenda, targeting billionaires with a minimum tax, cracking down on stock borrowing to dodge taxes, and pushing for new inheritance rules—all to halt extreme wealth concentration before it destroys democracy. While opposing California’s own billionaire tax, he insists the fight must be national, not state-level, because wealth moves across borders. His vision includes government stakes in AI companies to ensure equitable access to the future economy, tackling job displacement and inequality head-on. Framing the current tax code as…