Godofredo A. Vásquez
/
AP
A large health care union is attempting to place a proposal before voters in November that would impose a one-time 5% tax on the assets of billionaires. Democratic Gov. Gavin Newsom is trying to block the measure.
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The governor’s 2026-27 budget proposal projects $9 billion more in revenue than anticipated, banking on the AI-driven economy to last.
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