local
Newsom urges a national 'billionaires' tax' while fighting one in California
By Jonathan J. Cooper, Associated Press at KPRC 2 / Click2Houston (NBC)
· June 26, 2026
· 4 min read
California Gov. Gavin Newsom, a Democrat who is considering a run for president as he approaches the end of his term, called for a national “billionaires' tax” on Friday even as he fights another proposal targeting the wealthy in his home state. Newsom also said the U.S. government should own a s...
Key takeaway The governor announced his agenda a day after an influential health care union in California pledged to go forward with a ballot measure that would impose a one-time 5% tax on the assets of billionaires living in the state as of Jan.
Why this matters in The Piney Point
As California Gov. Gavin Newsom proposes a national "billionaires' tax", Piney Point Village residents may wonder how this could impact their own community. With Houston being a major hub for business and industry, the city's economy could be affected by changes in tax policies targeting the wealthy. Newsom's argument that wealth is movable and can shop for states with lower taxes is particularly relevant in Texas, which has attracted many businesses and individuals with its relatively low tax rates. If a national "billionaires' tax" were to be implemented, it could potentially alter the economic landscape of Houston and surrounding areas like Piney Point Village, possibly influencing local business decisions and investment. The fact that Newsom mentions Texas as a potential destination for billionaires seeking to avoid taxes suggests that the state's economy could be directly impacted by such a policy.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . The Piney Point 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 KPRC 2 / Click2Houston (NBC) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 26, 2026 ·
Source: KPRC 2 / Click2Houston (NBC) ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? California Gov. Gavin Newsom, a Democrat who is considering a run for president as he approaches the end of his term, called for a national “billionaires' tax” on Friday even as he fights another proposal targeting the wealthy in his home state. Newsom also said the U.S. government should own a s...
When was this published? This article was first published on June 26, 2026 by KPRC 2 / Click2Houston (NBC) and curated for The Piney Point readers.
Who reported this story? This story was reported by Jonathan J. Cooper, Associated Press at KPRC 2 / Click2Houston (NBC). To learn more about how The Piney Point selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Piney Point, or browse our daily briefing and topic hubs .
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