Two Los Angeles County supervisors are backing a new tax hike on residents that spike the cost of almost everything you buy -- including shopping, dining out and other everyday purchases across the county.

Add Yahoo as a preferred source to see more of our stories on Google. California's proposed 2026 Billionaire Tax Act is driving a sharp political and economic showdown, as the measure enters its signature‑gathering phase and new polling shows strong voter support despite widespread concerns about potential fallout.