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

Source: cnbc November 5, 2026 · 08:19
California’s billionaire tax faces defeat, but Democrats plan higher taxes on the wealthy
Photo by https://kaboompics.com/ · Pexels
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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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CNBC

The Consumer News and Business Channel (CNBC) is an American business news channel owned by Versant. The network broadcasts live business news and analysis programming during the morning, daytime business day, and early-evening hours, with the remaining hours filled by business-related documentaries and reality television programming, as well as occasional sports presentations from USA Sports. CNBC operates an accompanying financial news website, CNBC.com, which includes news articles, video and…

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