Gavin Newsom calls for national billionaires tax: 'It's time for an economic reset'

California Gov. Gavin Newsom said he supports imposing a true minimum tax on billionaires and closing tax-free lifestyle loan loopholes for the wealthy. The article is a policy statement rather than a market-moving development, with limited immediate impact beyond the tax and political debate.

Analysis

California Gov. Gavin Newsom said he supports imposing a true minimum tax on billionaires and closing tax-free lifestyle loan loopholes for the wealthy. The article is a policy statement rather than a market-moving development, with limited immediate impact beyond the tax and political debate.