California billionaire tax will appear on ballot after deadline for deal passes

In November, California voters will decide on a proposed one-time 5% tax on billionaires, marking a high-profile effort to address wealth inequality. Despite a missed deadline for withdrawing the measure, the initiative will now appear on the ballot. This move highlights growing concerns over economic disparities and could set a precedent for similar measures in other states. The outcome will have significant implications for tax policy and the ongoing debate about wealth redistribution in the U.S.