Key facts
- Michael Regan, chief backer of California's proposed billionaire tax, declared the effort a national campaign.
- Regan stated his organization made extensive outreach efforts to other labor groups and Democratic leaders.
- The teachers' union countered Regan's claims about outreach, providing calendar invites as evidence.
- Regan dismissed Governor Gavin Newsom's warnings that the tax would cause billionaires to leave California.
- Regan argued that billionaires do not supply a significant portion of California's tax revenue.
Michael Regan, the primary proponent of California's proposed wealth tax, has declared the initiative a national campaign, facing significant opposition from various groups. Prominent labor unions, health care organizations, and Governor Gavin Newsom have publicly criticized the measure. A coalition of billionaires and tech executives has reportedly raised tens of millions of dollars to combat the proposal and has introduced their own counter-measures.