California billionaire tax proposal garners enough signatures to head to ballot

Proposal for a one-time 5% tax on billionaires in the state is opposed by Silicon Valley tech titans and Gavin Newsom

Proponents of a proposal to levy a one-time tax on California billionaires say they’ve gathered enough signatures to place the measure on the ballot in November.

The campaign says it has collected more than 1.5m signatures, according to a statement.