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Bernie Sanders and Gavin Newsom become adversaries over push to tax California billionaires
A proposed 5% one-time tax on billionaires' wealth aims to raise $100 billion for healthcare amid federal cuts, sparking opposition from Gov. Newsom and support from Sen. Sanders.
- On Wednesday, February 18, 2026, U.S. Sen. Bernie Sanders headlined a rally at the Wiltern theater, Los Angeles, backing a billionaire tax that has created a rift with Gov. Gavin Newsom, California governor.
- The measure would impose a one-time 5% tax on 2025 net worth over $10 million, with supporters aiming to gather nearly 875,000 valid signatures by June 24.
- Opponents include wealthy tech donors and established business groups, who are raising millions; Sergey Brin is spending $20 million, while investor Daniel Tierney, venture capitalist Ron Conway, and California Business Roundtable also oppose the tax.
- Supporters say the measure would raise $100 billion and apply to about 200 billionaires, but federal Medicaid cuts of roughly $30 billion annually may cause 3.4 million Medi-Cal beneficiaries to lose coverage.
- As the campaign unfolds, leading Democrats and Gov. Gavin Newsom have come out against the tax, with three proposed ballot measures and Rep. Kevin Kiley pledging legal challenges.
115 Articles
115 Articles
For the proposal of a one-off 5% tax to the billionaires resident in California, Bernie Sanders also comes to the field. The Senator of Vermont launched on Wednesday evening from Los Angeles his campaign in favor of the "Billionaires Tax" on which the Californians will be called to express themselves in November in case the union of the workers of the services and the health care that promoted it succeeds to collect at least 875 thousand signatu…
Pasadena Star News
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When two of the Democratic Party’s potential presidential nominees appear at the Munich Security Conference, it’s worth asking what each was trying to prove and whether they achieved their goals. Indeed, both Gov. Gavin Newsom and Rep. Alexandria Ocasio-Cortez made the trip to the high-profile international gathering – albeit each for different reasons and speaking to their individual audiences. At the same time, the fact that both were auditio…
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