Major business group warns proposed CA billionaire tax in could give more taxing power to lawmakers

A proposed California billionaire tax, which would impose a one-time 5% tax on billionaires and their assets to fund health care programs, is facing scrutiny from a major business group over concerns about legislative power.

Apr 29, 2026 - 04:00
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Major business group warns proposed CA billionaire tax in could give more taxing power to lawmakers
A proposed California billionaire tax, which would impose a one-time 5% tax on billionaires and their assets to fund health care programs, is facing scrutiny from a major business group over concerns about legislative power.

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