California billionaires face proposed one-time wealth tax

The proposed “2026 Billionaire Tax Act" would impose a one-time 5% tax on California billionaires’ net worth to replace billions in lost federal funding for the state's Medicaid program.

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https://www.foxbusiness.com/lifestyle/california-billionaires-face-one-time-wealth-tax

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California billionaires face proposed one-time wealth tax