A landmark proposal for a one-time tax on billionaires in California recently reached a milestone. The labor union backing it said it had collected enough signatures to put the measure on the state’s ballot. Laurel Rosenhall, who covers California politics for The New York Times, explains how the state arrived at this moment and what it might mean nationwide. Guest: There are enough signatures to place the California billionaire tax proposal on the state ballot in November, its backers say. Background reading:

There are enough signatures to place the California billionaire tax proposal on the state ballot in November, its backers say.

Photo: Jae C. Hong/Associated Press For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Why Even Some Democrats Hate California’s Billionaire Tax Proposal