24 DAILY NEWS – The leading progressive candidate aiming to succeed longtime Democratic leader Nancy Pelosi in Congress is voicing opposition to two wealth taxes that will be voted on in his state and district: a one-time statewide tax on California billionaires and a local San Francisco tax targeting the city’s wealthiest businesses and corporations.
California state Sen. Scott Wiener’s stance may appear inconsistent with his progressive campaign, but it aligns with the interests of two prominent donors supporting his candidacy. Crypto mogul Chris Larsen and venture capitalist Garry Tan, both influential Bay Area tech executives, are funding a super PAC called Abundant Future, which backs Wiener. Both donors have vocally opposed the taxes, which are intended to fill funding shortfalls in healthcare and social services following recent federal cuts to Medicaid. Larsen, in particular, has invested millions to oppose these tax measures.
### Proposed Taxes
The proposed statewide tax, referred to as the Billionaire Tax Act, would impose a one-time 5 percent tax on the wealth and assets
