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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 Pearland
As California Gov. Gavin Newsom calls for a national "billionaires' tax," Pearland residents may wonder how this proposal could impact their own community. With the Houston area being a major hub for business and industry, a national tax on large net worths could potentially affect local job markets and economic growth. Newsom's argument that wealth is movable and can shop for states with lower taxes may resonate with Texans, who have seen their state attract businesses and individuals from other parts of the country with its relatively low tax rates. If a national tax policy were to be implemented, it could level the playing field and reduce the incentive for wealthy individuals and companies to relocate to Texas solely for tax purposes. This could have significant implications for Pearland's own economic development and growth, making it worth watching how Newsom's proposal unfolds and how it might impact the local community.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . The Pearland 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 Pearland 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 Pearland selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Pearland, or browse our daily briefing and topic hubs .
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