After flirting with Gavin Newsom rollback idea, union is ‘all in’ on full billionaires’ tax for California

California voters will consider a proposal to temporarily tax billionaires at 5% to fund Medicaid, supported by a labor union despite opposition from Governor Gavin Newsom and a coalition of healthcare and education groups. Critics argue the tax would drive wealthy residents out of the state and destabilize revenue, while opponents like Sergey Brin have spent millions to block it.