Dustin Corcoran, CEO of the California Medical Association, joined California Politics 360 host Ashley Zavala on the group’s opposition of the propsed billionaire tax.
A controversial proposal to tax California’s wealthiest residents is officially headed to the November 2026 ballot, setting up a high‑stakes political fight despite opposition from the state’s top leaders, including Governor Gavin Newsom and both major candidates vying to replace him. State officials confirmed the measure qualified after proponents gathered over the roughly 875,000 valid […]
The 5 percent tax would raise tens of billions for health care, but many liberals in the state fear the long-term economic costs. Leaders of a proposal to tax California’s billionaires faced growing opposition Thursday as they declared the issue would make the state’s ballot in November. Top Democrats and advocacy groups were lining up against […]
“Dangerous Wealth Tax Directly Threatens Vital Funding”
A billionaire wealth tax, proposed as a straightforward, one-time solution to raise revenue actually points to a sharp drop in tax revenue, a shrinking tax base, fewer jobs, and stagnant economic growth.
Proponents of a tax on California billionaires vowed on Thursday to move forward with their November ballot measure despite mounting opposition from many of the state’s most powerful political forces. A labor union spent $31 million gathering signatures to qualify the measure for the ballot in an effort to offset federal healthcare funding cuts that will affect millions of […]
While supporters of the 2026 Billionaire Tax Act (the “BTA”) project approximately $20 billion annually over five years, those projections depend on legal, valuation, and enforcement assumptions that may not hold in practice. The Legislative Analyst’s Office (“LAO”) has cautioned that actual revenues are difficult to predict and could be materially affected by taxpayer behavior […]
The groups opposed to the measure include some of Sacramento’s most influential political players. California unions and billionaires don’t often find themselves on the same side of a political fight. But a bitter battle over a November billionaire tax has splintered some of the state’s many labor unions to create a broad coalition of strange […]
Strong Majority Opposition Follows Review of Official Title and Summary; Awareness of Measure Already Near Universal Among Likely Voters
California’s next governor won’t be chosen until November, but the debate over a proposed wealth tax is already defining the race. In the primary debates, candidates from both parties were pressed on whether California should impose a one-time 5% wealth tax on billionaires. What’s most notable: Deep skepticism cuts across party lines about the tax’s design, consequences and […]
