# Newsom backs wealth tax ban in California

Gov. Gavin Newsom opposes a proposed California billionaire tax. He supports Prop. 42, which bans future wealth taxes. The measure protects retirement accounts and personal assets from taxation.

https://lbpost.com/news/politics/elections/gavin-newsom-backs-measure-to-kill-the-billionaire-tax-and-ban-future-wealth-taxes

Image: https://img.lbpost.com/wp-content/uploads/2026/10/13122231/021126-newsom-pph-signing-mg-cm-16-152621-uept6rz0-353383-M0ai1CqW-1024x682.webp

#california #wealth #taxes #pensions

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Created: 2026-10-14T10:29:04.444594+00:00

Last edited: 2026-10-14T10:29:04.444594+00:00

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Origin: Syndicated

Original source: https://lbpost.com/news/politics/elections/gavin-newsom-backs-measure-to-kill-the-billionaire-tax-and-ban-future-wealth-taxes