Key facts
- A group proposing a wealth tax in California has suggested a compromise.
- The revised proposal is for a 2% wealth tax, down from the initial 5% proposal.
- The aim is to find common ground with Governor Gavin Newsom on wealth taxation.
A group that had previously proposed a 5% wealth tax in California is now seeking to negotiate with Governor Gavin Newsom. The proponents have put forward a revised proposal of a 2% levy, aiming to find a middle ground on the issue of wealth taxation within the state.