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Newsom, opponent of California billionaire tax, calls for national billionaire tax
By Brett Stover at KTSM 9 News (NBC)
· 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 El Paso
El Pasoans may wonder how a national billionaires' tax, supported by California Gov. Gavin Newsom, could impact the local economy. As a border city with a unique blend of international trade and small businesses, El Paso 's financial landscape could be affected by such a tax. If implemented, it could lead to increased revenue for the federal government, potentially funding initiatives that benefit local communities, such as infrastructure development or social programs. However, it's also possible that a national billionaires' tax could influence the investment climate in El Paso, potentially deterring wealthy investors from putting their money into local projects. As Newsom navigates his potential presidential run, El Paso residents should pay attention to how his tax proposal could trickle down to the local level, particularly in terms of economic growth and development.
About this story
Original reporting by KTSM 9 News (NBC) . The El Paso 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 KTSM 9 News (NBC) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 26, 2026 ·
Source: KTSM 9 News (NBC) ·
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 KTSM 9 News (NBC) and curated for The El Paso readers.
Who reported this story? This story was reported by Brett Stover at KTSM 9 News (NBC). To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The El Paso, or browse our daily briefing and topic hubs .
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