# California billionaire tax likely to fail, but Democrats plan higher taxes on the wealthy

https://mins.news/en/item/131075

- CNBC, 2026-11-05 16:19 UTC
- Economy
- Original: https://www.cnbc.com/2026/11/05/as-california-billionaire-tax-fizzles-democrats-plan-taxes-on-wealthy.html

> Tax experts say the likely defeat of California’s billionaire tax could energize congressional Democrats to propose federal tax increases for high earners.

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