The failure of the billionaire tax marks a blow to the left wing of the Democratic Party, even as Democrats won decisive majorities in both houses of Congress
US Senator Bernie Sanders (I-VT) attends a rally in support of Proposition 40 and in opposition to Propositions 41 and 42, related to a proposal to tax billionaires, ahead of the midterm elections in Los Angeles, California, US, October 5, 2026. (Reuters)