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Benzinga

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Namrata Sen

California Democrats Defy Gov. Gavin Newsom, Endorse Billionaire Wealth Tax Proposal Ahead of November Vote

Gavin Newsom California Calif Bernie Sanders Democratic Party Mark Zuckerberg Maxine Waters

Sacramento,,Ca,-,Oct,28,,2025:,Gavin,Newsom,At,A

The California Democratic Party endorsed a November ballot measure to tax billionaires’ wealth, defying opposition from Gov. Gavin Newsom and several influential labor unions.

On Sunday, California Democrats’ executive board narrowly endorsed Proposition 40 after earlier votes to support or stay neutral failed. Rep. Maxine Waters (D-Calif.) helped rally support, while the measure had previously received limited backing from top Democratic leaders, including Rep. Ro Khanna (D-Calif.).

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