# Billionaire Tax in California at Risk

Page: https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192/billionaire-tax-in-california-at-risk
Text version: https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192/billionaire-tax-in-california-at-risk.md
Podcast: [Business News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192)
Published: 2026-06-16T17:46:25+00:00
Episode link: https://api.fastcast.ai/audio/4afb3dad-2ff0-4cd6-80ee-3abb42f193a9.mp3
Audio file: https://api.fastcast.ai/audio/4afb3dad-2ff0-4cd6-80ee-3abb42f193a9.mp3
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Duration seconds: 98

## Resource

A proposed one-time 5% billionaire tax in California, designed to fund healthcare amid federal cuts and backed by over 1.5 million signatures, now faces a steep political setback. Once seen as nearly certain to make the November ballot, its chances have plummeted to just 35.5% after Governor Gavin Newsom reportedly moves to block it before the June 25 deadline. Speculation swirls that his opposition ties to his potential presidential run, as he’s publicly accusing Trump of targeting him. Meanwhile, the union behind the tax, SEIU, remains defiant, insisting this is vital for California’s healthcare future. The race to the ballot is now a high-stakes political chess match with major implications for both state services and the governor’s political ambitions. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/4df2108d43fcdb35

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## Transcript

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