California Governor Gavin Newsom is advocating for a national tax on billionaires. This proposal was made on Friday. Newsom, a Democrat, is nearing the end of his term and is considering a presidential run.

Details about the proposed tax are limited, but it is known that Newsom is pushing for a national implementation. Further information on Newsom's proposal and his efforts can be found through KPRC 2 and Click2Houston.