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California Rejects Proposed One-Time 5% Tax on Billionaires

Summarised by Spiced Kopi · 10 November 2026, 08:32 UTC ·9 sec listen

California has rejected a proposed one-time tax of 5 percent on billionaires. The state has already voted three times this decade on wealth-tax measures, keeping the debate over taxing large fortunes in focus for policymakers.

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