California Democrats Endorse Billionaire Wealth Tax Despite Newsom's Opposition

The California Democratic Party has endorsed a November ballot measure that would impose a tax on the wealth of billionaires, defying the position of Gov. Gavin Newsom and several influential labor unions, Blake Jones reported for Politico.

California Democratic Party delegates voted to endorse a ballot measure imposing a one-time tax on billionaire wealth.

The party's executive board narrowly approved support for Proposition 40 after earlier votes to endorse the measure or remain neutral both failed.

According to three people familiar with the discussions, Rep. Maxine Waters attended the executive board meeting in San Diego and encouraged delegates to support the proposal.

The sources requested anonymity because of the politically sensitive nature of the deliberations.

Before the endorsement, the proposal had received limited backing from senior Democratic elected officials, including only one member of California's congressional delegation, Rep. Ro Khanna.

Supporters initially fell short of the 60 percent threshold required for an endorsement but later secured enough additional votes to gain the party's backing. SEIU United Healthcare Workers West (SEIU-UHW), which spearheaded the proposal for a one-time 5 percent wealth tax on billionaires, welcomed the decision.

"This endorsement puts to rest the idea that California Democrats are not united behind the billionaire tax—they are," said Dave Regan, president of SEIU-UHW.