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Story summary
- Sen. Bernie Sanders (I-Vt.) will launch next week to place a 5% wealth tax on California's wealthiest.
- The measure would appear on California's ballot to offset healthcare cuts under U.S. President Donald Trump.
- Supporters, including the Service Employees International Union, must collect nearly 875,000 signatures by June 24 to qualify.
- Some Democrats, including Gov. Gavin Newsom, oppose the measure, warning it could harm the economy and drive away wealth.
