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Story summary
- California Governor Gavin Newsom opposes billionaire wealth tax, calling it bad policy and warning it could drive residents from the state as he pursues a big tent.
- Economists and unions proposed the tax to raise $100 billion to restore Medicaid funding after cuts.
- During a panel, Newsom contrasted with New York City Mayor-elect Zohran Mamdani, who supports higher taxes for high earners, and polls show support for billionaire income tax.
