Page 12 - Mark Heising News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Prop 30 had widespread support. Then Governor Newsom and billionaires got involved.

Democratic Gov. Gavin Newsom of California is opposing a ballot measure that would raise taxes on individuals who make more than $2 million a year.

There’s a rift between Lyft and the money men who power Silicon Valley over Prop. 30, the tax proposal to fund electric vehicles, as venture capital billionaires are dropping millions and enlisting Gavin Newsom to defeat the tax hike.

A California ballot initiative that would tax the rich to pay for electric vehicle infrastructure has sparked a high-stakes political battle that shows how hard it may be to finance the green transition.

Proposition 30 would raise up to $5bn annually to help buy zero-emission cars, trucks and buses; Newsom calls it a ‘Trojan horse’