NOT FOR REPRINT
Wealth Tax Plan Draws Fire From Top California Democrats
News January 22, 2026 at 10:55 AM
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What You Need To Know
- The wealth tax is also reverberating across the wide-open race to succeed Newsom as governor.
- The money is earmarked to pay for funding shortages in health care, education and food assistance.
- Some Democrats are concerned about what would happen to the state’s tech industry if venture capitalists and founders depart.
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