Sen. Bernie Sanders (I-Vt.) kicks off the campaign for the California billionaire tax at the Wiltern in Los Angeles on Feb. 18. California voters are being urged to put a poison-pill effort on the November ballot that would nullify a proposed tax on the state’s billionaires. Even if both proposals receive the support of the majority of the electorate, the billionaire tax would not go into effect if the poison pill receives more votes. The proposed tax, which would retroactively apply to billionaires’ assets as of Jan. 1, has created a wedge among Democrats. Among the supporters is Sen. Bernie Sanders (I-Vt.), who kicked off the billionaire tax proposal drive in February.

Source: Los Angeles Times March 10, 2026 19:30 UTC