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People supporting Billionaire Tax Now hold up signs at the 2026 California Democratic Party State Convention in San Francisco, Saturday, Feb. 21, 2026.
Jeff Chiu
/
AP
A health care workers'Kristen Hwang union is pushing a one-time 5% tax on the state's roughly 200 billionaires to offset federal Medicaid cuts. One billionaire has already spent $82 million trying to stop it — and that may be just the beginning.
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