An influential California labor union is gathering signatures for a <a href="https://www.wsj.com/us-news/law/bill-ackman-billionaire-wealth-tax-66fd6130?mod=author_content_page_1_pos_7?mod=WSJ_TJPOD">proposed asset tax on billionaires</a>. But some of California’s <a href="https://www.wsj.com/politics/policy/save-california-billionare-tax-814a2fe9?gaa_at=eafs&gaa_n=AWEtsqejH3n9c-QPQZY7UNPKDSwWI8OFT66T1k3QAGY50wy0A_Xfx1OUwtxm_33kH6o%3D&gaa_ts=697b84ef&gaa_sig=LQwZlCvcmBc4w0nl0Ebyedp2ro5YROq1TfI_Er6dN-cdPEUvTiPnkDf_TMEMZAz1beuFEDUyRR_A_Eeshz96Vg%3D%3D?mod=WSJ_TJPOD">ultra-wealthy are threatening to pack their bags</a> — leaving the state’s tax revenue in the balance. WSJ’s <a href="https://www.wsj.com/news/author/laura-j-nelson?mod=WSJ_TJPOD">Laura J. Nelson</a> explains what’s potentially at stake and why a billionaire exodus is harder than simply renting a truck. <a href="https://www.wsj.com/news/author/jessica-mendoza?gaa_at=eafs&gaa_n=AWEtsqf4b0J05Wv9KO-vhdP4QWm3xP7fXViYzMAwutVMIRGkNTKZAaZlEs2M6nzxXK4%3D&gaa_ts=6981065f&gaa_sig=qDE5ThGBcH7OPXR4b-uf0tAIckTm2zkaFc3oRKVfdQQciwgThDQyMSnFwPAQ5O68GTXfgxRfbfmZrs6meAyANg%3D%3D?mod=WSJ_TJPOD">Jessica Mendoza</a> hosts.  

Further Listening: 
- <a href="https://open.spotify.com/episode/2fI306nQLapXQD6uuVTgQv?si=b78f6050586a49df">The Healthcare Costs of Trump’s Big Beautiful Bill</a> 
- <a href="https://open.spotify.com/episode/6rgF7ioebAVQKaq78ys2h2?si=9c438fe64dff49a0">Kathy Hochul on Mamdani, Trump and Where Democrats Went Wrong </a>
Sign up for WSJ’s free <a href="https://www.wsj.com/newsletters/whats-news?mod=WSJ_TJPOD">What’s News newsletter</a>.
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