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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
Supporters of a controversial California proposal to implement a one-time tax on billionaires say they have enough signatures to qualify it for the November ballot. The goal of the proposal is to generate $100 billion in revenue for the state to backfill federal cuts to Medicaid, which provides healthcare to low-income people.
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