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Los Angeles Times
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Source: Los Angeles Times
1 DayLos Angeles Times
Source: Los Angeles Times
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California’s November ballot measure, Proposition 40, would impose a one-time 5% tax on many assets held by billionaires to help fund healthcare, but it remains unclear which sports team owners would be subject to it because residency status affects the tax. Opponents warn the levy could raise operating costs, threaten jobs and increase prices for tickets, parking and concessions, while supporters say wealthy owners should contribute after benefiting from federal tax cuts. Voters are scheduled to decide on the measure Nov. 3.
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