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California Assemblymember Again Tries to Tax the Rich

The bill would impose a new tax on the state’s “extremely wealthy” at rates of 1.5 percent and 1 percent for those worth more than $1 billion and $50 million, respectively. If passed, it could generate $21.6 billion for the state.

New yorkUnited statesGavin newsomEmmanuel saezCharles khanJose assemblymember alex leeRobert gutierrezRevenue allianceCalifornia federation of teachersInnovation exchangeFund ourCalifornia policy labSan jose assemblymember alex leeBernie sandersElizabeth warrenPresident biden

California lawmaker joins other blue states in trying to tax rich people

In the absence of a federal wealth tax, Democratic lawmakers are pushing them in states including California, New York and Hawaii.

United statesNew yorkSan franciscoEvan vucciRobert gutierrezSusan walshJoe bidenGavin newsomCharles khanEmmanuel saezJose assemblymember alex leeElon muskInnovation exchangeFund ourCalifornia policy labRevenue alliance

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