Democrats in California back billionaires tax

California Democrats endorsed Proposition 40, a measure proposing a one-time 5% tax on approximately 200 billionaires, despite opposition from Governor Gavin Newsom and the state's Democratic nominee for governor. The endorsement followed a contentious convention debate and reflects a division within the party, with supporters emphasizing the potential to raise significant revenue for healthcare and public services. The measure will appear on the ballot, while prominent Democratic figures remain opposed.

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