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California billionaires face proposed one-time wealth tax

Business

California billionaires face proposed one-time wealth tax

California’s wealthiest residents could face a one-time 5% tax on their net worth under a new proposal aimed at replacing billions of dollars in federal funding cuts to healthcare.The measure – called the "2026 Billionaire Tax Act" – seeks to counter $30 billion in potential federal funding cuts to California's Medicaid program, with a portion of the revenue earmarked for public education, according to supporters, which include the Service Employees […]

todayOctober 30, 2025 6

Beach bliss turns chaotic as shark lunges at snorkeler: ‘He could have ripped my arm off’

Top Stories

Beach bliss turns chaotic as shark lunges at snorkeler: ‘He could have ripped my arm off’

A Florida man is reportedly recovering from being bitten by a shark while snorkeling with friends last weekend.The incident occurred off Boca Chita Key in the Florida Keys’ Biscayne Bay in the late morning hours of Saturday, Oct. 25, the Miami-Dade Fire Rescue confirmed to Fox News Digital. Emergency personnel responded to a medical call regarding an animal bite at around 11:30 a.m., authorities said. Officials airlifted the man to a […]

todayOctober 30, 2025 7

Portland police accuse federal troops of inflaming anti-ICE protests, which city claims have not been violent

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Portland police accuse federal troops of inflaming anti-ICE protests, which city claims have not been violent

A Portland police commander testified Wednesday that federal forces deployed by President Donald Trump escalated tensions during protests outside a U.S. Immigration and Customs Enforcement (ICE) building, intensifying violence rather than curbing it.Portland Police Bureau Cmdr. Franz Schoening delivered the testimony during a federal bench trial examining whether Trump had legal grounds to deploy the National Guard to Portland — an action city officials argue was unnecessary and inflammatory.Schoening described […]

todayOctober 30, 2025 10