California billionaires tax ballot measure survives removal push, setting up contentious campaign

Backers of the California billionaires tax, including Rep. Ro Khanna and Sen. Bernie Sanders of Vermont, say the measure is needed to offset federal spending cuts that they argue will force hospital closures and widespread job losses.

Its opponents, from Newsom to Silicon Valley billionaires like Google co-founder Sergey Brin, counter that it would drive ultrawealthy residents and their tax dollars out of state while undermining California's business climate.

The proposed levy, which proponents refused to withdraw from the ballot by Thursday's deadline, has prompted Silicon Valley players like