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Gavin Newsom fighting to save California's ultra-rich from tax hike intended to subsidize transition to EVs

Photo by Justin Sullivan/Getty Images

California Gov. Gavin Newsom (D) claimed earlier this year that the "future is electric." In 2020, he signed an executive order to phase out the sale of all new gasoline-powered cars by 2035. Now, he's aligned himself with California Republicans to fight a new tax hike. However, unlike the various other tax increases opposed by the state's Republicans that adversely impact the middle class, the tax hike Newsom has elected to fight would be one specifically imposed on the ultra-rich.

The tax hike

Proposition 30 calls for a 1.75% tax hike on those earning over $2 million annually. It has been touted as a means to help subsidize the statewide adoption of so-called "zero-emission" vehicles and the development of EV charging infrastructure.

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