California Democrats Endorse Billionaire Tax, Discuss Other Upcoming Ballot Propositions
The measure would impose a 5% one-time tax on billionaires’ assets and raise an estimated $100 billion for healthcare, supporters said.
- On Sunday, the California Democratic Party executive board endorsed Proposition 40, a one-time 5% tax on billionaire assets designed to fund healthcare and restore safety-net programs.
- The measure aims to raise an estimated $100 billion to replace healthcare funding slashed by President Donald Trump's budget bill last year, which eliminated coverage for over a million Californians.
- Dave Regan, President of SEIU-United Healthcare Workers West, cited internal polling showing more than 80% of registered Democrats support the tax, while Public Policy Institute of California data indicates 54% of likely voters favor it.
- Opposing the measure, Gov. Gavin Newsom and Xavier Becerra warn of potential budget instability, while wealthy opponents have funded competing initiatives, Propositions 41 and 42, to undermine the tax.
- Democrats also voted to oppose a voter ID measure and a proposal to weaken the California Environmental Quality Act, while endorsing an $11.25-billion affordable housing bond and an $8.4-billion immunology research bond.
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'Major Momentum' as California Democratic Party Endorses Billionaire Wealth Tax
"This endorsement puts to rest the idea that California Democrats are not united by the billionaire tax—they are," said the president of the healthcare workers union leading the ballot measure campaign.
ussanews.com
economiccollapse.reportCalifornia Democrats Choose Class Warfare Over Their Own Leaders on Billionaire Confiscation Tax
California Democrats just told Gavin Newsom and Xavier Becerra to take a hike. In a narrow, messy vote that required last-minute switcheroos, the state party endorsed Proposition 40 — a one-time 5 percent tax on the net worth of roughly 200 billionaires living in the state as of January 1, 2026. The measure, pushed hard...
The electoral measure for the November elections seeks to impose a historic tax on the wealth of billionaires
California Democrats Endorse Wealth Tax Despite Newsom Opposition
SACRAMENTO, California — The California Democratic Party has endorsed Proposition 40, a proposed one-time tax on the state’s billionaires, despite opposition from Gov. Gavin Newsom and other influential Democrats. The party’s executive board narrowly approved the endorsement Sunday after supporters secured the required 60% threshold. Rep. Maxine Waters reportedly attended the San Diego meeting and helped proponents gather enough votes. Propositi…
California Democrats endorse billionaire tax, discuss other upcoming ballot propositions
The California Democratic Party's executive board meeting concluded in San Diego with endorsements for several ballot measures, including Proposition 40, while leaders voiced opposition to Propositions 39 and 44.
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