The tax is 5% of the wealth of about 200 California billionaires.

Why is this tax important?

This tax could raise a lot of money to help with healthcare.

Who voted for the tax?

California Democrats voted for the tax.

World1 outlet covering thisCalibrating

California Democrats defy Gavin Newsom and Xavier Becerra as they vote to back billionaires tax

First publishedAug 2, 18:54 UTC

Last updatedAug 2, 20:35 UTC · 14m ago

1 outlets over time — hover a bar for its window & outletslast updated

California Democrats defy Gavin Newsom and Xavier Becerra as they vote to back billionaires tax

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Answer

California Democrats voted to support a billionaire tax. The tax would be 5% of the wealth of about 200 California billionaires. This tax would help offset federal healthcare funding cuts.

Reported by 1 outlet — New York Post. See all sources ↓

California Democrats voted to support a tax on billionaires. This tax would be 5% of the wealth of about 200 California billionaires. The tax would help offset federal healthcare funding cuts.

Why it matters

This tax could affect many wealthy people in California. It could also raise a lot of money to help with healthcare.

In brief

What is the tax?: The tax is 5% of the wealth of about 200 California billionaires.
Why is this tax important?: This tax could raise a lot of money to help with healthcare.
Who voted for the tax?: California Democrats voted for the tax.

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1Angle
Scouting report
California Democrats support a billionaire tax.
Sources1
TypeAngle
New York PostAug 2, 18:54opposes Newsom and Becerra