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Newsom, opponent of California billionaire tax, calls for national billionaire tax
By Brett Stover at KRON4 (KRON-TV)
· June 26, 2026
· 1 min read
As he approaches a widely-expected run for the White House, California Gov. Gavin Newsom began a political tightrope act Friday, announcing support for a national "billionaires' tax" while simultaneously reaffirming his opposition to a ballot measure that would implement one in California.
Key takeaway Gavin Newsom began a political tightrope act Friday, announcing support for a national "billionaires' tax" while simultaneously reaffirming his opposition to a ballot measure that would implement one in California.
Why this matters in The San Francisco
California Gov. Gavin Newsom's recent announcement in support of a national billionaires' tax, while opposing a similar measure in his home state, raises questions about the potential impact on San Francisco 's wealthy residents and the city's economy. As a hub for tech industry billionaires, San Francisco could be significantly affected by such a tax, with potential consequences for the local business landscape and philanthropic efforts. Newsom's stance may also be seen as an attempt to balance his national ambitions with the interests of his California constituents, particularly those in the Bay Area who have contributed to his political campaigns. The contrast between his support for a national billionaires' tax and his opposition to a state-level measure will likely be closely watched by San Francisco voters, who may be wondering what this means for the city's future and its relationship with the state's highest office.
About this story
Original reporting by KRON4 (KRON-TV) . The San Francisco surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KRON4 (KRON-TV) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 26, 2026 ·
Source: KRON4 (KRON-TV) ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? As he approaches a widely-expected run for the White House, California Gov. Gavin Newsom began a political tightrope act Friday, announcing support for a national "billionaires' tax" while simultaneously reaffirming his opposition to a ballot measure that would implement one in California.
When was this published? This article was first published on June 26, 2026 by KRON4 (KRON-TV) and curated for The San Francisco readers.
Who reported this story? This story was reported by Brett Stover at KRON4 (KRON-TV). To learn more about how The San Francisco selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The San Francisco, or browse our daily briefing and topic hubs .
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