California wealth tax proposal splits Democrats ahead of midterms
The Hill
by Ryan ManciniFebruary 18, 2026
California Democrats are split over a state proposal, championed by Sen. Bernie Sanders (I-Vt.), to tax the state’s richest residents ahead of the November midterm elections, potentially thwarting any party unity on the issue in the Golden State. The Billionaire Tax Act would charge the state’s 200 billionaires with a five-percent tax on their net…
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Originally published on The Hill on 2/18/2026