In the lead-up to the November midterms, the Democratic Socialists of America (DSA) put its support behind California’s Proposition 40, a measure that would impose a one-time 5% tax on billionaires in the state.  Although the secretary of state’s election results show it on the path to defeat as of Wednesday afternoon, the DSA’s support for the policy has created a flashpoint for larger discussions about socialism’s redistributive...

Minority Leader Hakeem Jeffries, D-N.Y., is officially running to be Speaker of the House in the next Congress. It comes after Democrats made historic gains in Tuesday night’s midterm elections, taking back both the House and Senate for the remainder of President Donald Trump’s term. Jeffries sent a letter to fellow House Democrats on Wednesday afternoon congratulating them on their victories and adding, “I write to humbly request...

New York City Mayor Zohran Mamdani scored a legal victory Wednesday after a state appeals court reversed a lower court ruling that had ordered his administration to redo the rollout of a tax on high-end second homes. The four-judge panel unanimously dismissed the homeowners’ lawsuit, finding that the plaintiffs lacked legal standing. The decision overturned a September ruling by a Staten Island judge who had ordered the city...