The effort to institute a state tax on ultra-millionaire and billionaire constituents' net worth was going nowhere. Hours after Newsom spoke, state lawmakers promptly shelved the measure with little discussion.
"I think - in a period where you're facing a significant shortfall, and you're having to roll back some essential services - you should be at least having a conversation about every tool in the toolbox," said Chris Hoene, executive director of the California Budget and Policy Center.
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