A ballot initiative that would impose a one-time 5% tax on California billionaires’ wealth that advocates say could bring in about $100 billion to cover state health-care costs, Ben Steverman and Biz Carson report.
Health Care Funds: California, which has had a budget deficit the past three years, has had to roll back free health care for most undocumented adults. Cuts in federal funds are expected to compound those reductions. The new tax is needed to avoid “a literal collapse” of the system, said Dave Regan, president of Service Employees International Union United Healthcare Workers West.
Tech Wealth: Four of ...
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