Newsom's Billionaire Tax Plan

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

California Governor Gavin Newsom is pushing a bold national agenda to overhaul America’s economic system, positioning himself as a champion of the middle class while quietly signaling a possible presidential run. He’s backing a federal tax on billionaires to close loopholes like “tax-free lifestyle loans,” while rejecting a state-level wealth tax that would fund only healthcare — arguing it ignores schools, housing, and other urgent needs. His vision includes restoring pre-2017 corporate tax rates, creating a national AI wealth fund, and reforming inheritance laws to prevent a permanent…