"Google's former CEO Eric Schmidt has become a major donor, contributing $1.04m to an independent committee, the California Business Roundtable, that is campaigning against the proposed Billionaire Tax Act, according to new filings released by the state government. The union-backed tax proposal, opposed by almost all of the state's mega-rich, aims to help cover education, food assistance and healthcare programs."
"New campaign filings also reveal that Google co-founder Sergey Brin has donated to both Republican and Democratic candidates for the California governor's seat, playing both sides of the aisle. Brin contributed $39,200 last week to Republican candidate Steve Hilton, a former Fox News contributor who served as an adviser to former British prime minister David Cameron."
"Brin, who relocated to a $42m estate on the north-eastern shore of Lake Tahoe in Nevada after the billionaire tax proposal, contributed $20m in January to a committee combating the measure, Building a Better California. Schmidt donated $2m to the same committee around the same time."
Tech billionaires are dramatically escalating their political spending in California amid campaigns for governor and debate over a proposed Billionaire Tax Act. Major donors include executives from Google, DoorDash, Reddit, LinkedIn, and Facebook. Eric Schmidt contributed $1.04 million to oppose the wealth tax through the California Business Roundtable. Sergey Brin has donated to both Republican and Democratic gubernatorial candidates, including $39,200 to Republican Steve Hilton and $78,400 to Democrat Matt Mahan, plus $1 million to an independent committee supporting Mahan. Brin and Schmidt each contributed $20 million and $2 million respectively to committees fighting the Billionaire Tax Act. The union-backed tax proposal aims to fund education, food assistance, and healthcare programs but faces opposition from nearly all of California's wealthy residents.
#tech-billionaire-political-spending #california-wealth-tax-opposition #gubernatorial-campaign-financing #silicon-valley-political-influence
Read at www.theguardian.com
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