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California labor union offers to scale back billionaire tax proposal after pushback

California's labor union is revising its billionaire tax proposal after significant pushback. Initially set at 5%, the tax is now reduced to 2%, aiming to generate $100 billion for healthcare. However, concerns about potential negative impa...

AP News· Jun 19, 2026 · 2:32 PM · 19 views

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California's labor union is revising its billionaire tax proposal after significant pushback. Initially set at 5%, the tax is now reduced to 2%, aiming to generate $100 billion for healthcare. However, concerns about potential negative impacts on the state's economy and revenue remain high. #California #BillionaireTax #Economy #News #Politics

Originally reported by AP News. Read the full story →

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