# California’s billionaire tax faces defeat, but Democrats plan higher taxes on the wealthy

- Source: CNBC Top News
- Published: 2026-11-05T16:19:21+00:00
- Category: Local
- Original: https://www.cnbc.com/2026/11/05/as-california-billionaire-tax-fizzles-democrats-plan-taxes-on-wealthy.html
- Canonical: https://groundlevelnews.com/story/california-s-billionaire-tax-faces-defeat-but-democrats-plan-higher-ta-0021a1/

The likely defeat of the California billionaire tax may energize Democrats in Congress to propose federal tax hikes on high earners, according to tax experts.

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