Brin Backs New Efforts Against California Billionaire Tax (1)

Sergey Brin and a group of fellow billionaires are bankrolling a series of competing California ballot initiatives that would nullify a proposed 5% levy on the state’s wealthiest residents.

The Building a Better California group, a political spending committee backed by Google co-founder Brin, former Google CEO Eric Schmidt and others, will support three different voter initiatives that would limit and restrict the creation of new taxes in the state, according to a Tuesday statement.

The three ballot initiatives would compete against a fourth measure, backed by a health-care workers union, that creates a one-time 5% tax on billionaires. ...