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California’s billionaire tax faces defeat, but Democrats plan higher taxes on the wealthy

Trade Hub UK regulation desk (2026-11-05): The likely defeat of the California billionaire tax may energize Democrats in Congress to propose federal tax hikes on high earners, according to tax experts. Primary source: original at CNBC Top News (cnbc.com).

By CNBC Top News

California’s billionaire tax faces defeat, but Democrats plan higher taxes on the wealthy

The likely defeat of the California billionaire tax may energize Democrats in Congress to propose federal tax hikes on high earners, according to tax experts.

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Source: CNBC Top News