Dossier
Proposition 3
Coverage of Proposition 3 in the Nexus archive.
- Newsom’s populist act: Oppose state billionaire tax, embrace federal one
Gov. Gavin Newsom opposes a California billionaire tax but advocates for federal higher taxes on the wealthy, positioning himself as a populist ahead of a potential 2028 presidential campaign. He emphasizes addressing AI-driven economic inequality while balancing relationships with tech donors who oppose the state tax proposal, Proposition 40.