Press Releases
Broad, Diverse Coalition of Housing, Labor, and Business Leaders Announce Opposition to Wealth Tax
Leaders Warn Measure Threatens Investment, Housing Production, and Long-Term Fiscal Stability
IntroductionThe California Billionaire Tax Act (the “BTA”) contains multiple constitutional defects built into its design. It implicates the Due Process Clause, the Dormant Commerce Clause, and other constitutional limits in ways that could lead a court to narrow or invalidate the initiative in whole or in part. These are not theoretical objections. They arise from […]
The California Teachers Association, the state’s largest teachers union, opposes a measure on the November ballot that would impose a one-time tax on the state’s billionaires. “After thorough review and democratic debate about the Billionaire Tax Act, our State Council of Delegates — 800 educator representatives from throughout the state — determined that this policy […]
“Common” Spotlights Growing Wave of Opposition, Devastating Impacts of “Experiment” on Healthcare, Schools, Public Safety, and Infrastructure
Press Releases
California Medical Association, California Primary Care Association and California School Boards Association Launch New Committee Opposing Wealth Tax
Wave of Opposition Growing Among Healthcare, Education, Housing, Labor, and Public Safety Leaders
California YIMBY
Why California YIMBY Opposes the Billionaire Wealth Tax
California YIMBY is taking a formal position against the One-Time Wealth Tax (California Billionaire Tax Act or “CBTA”) headed for the November ballot. For an organization built around housing, that may look like a detour. It isn’t, and we want our members to understand exactly why. TL;DR: While we believe taxes are good – they’re the price […]
The 2026 Billionaire Tax Act (“BTA”) asks policymakers to rely on revenue that may be slow, contested, and uncertain. The Act’s own design creates four practical problems: (1) court challenges could delay collection for years; (2) residency disputes could make enforcement difficult; (3) even complying taxpayers may pay over time; and (4) the Optional Deferral Account […]
The New York Times
Unlikely Coalition Begins Campaign Against Billionaire Tax in California
A surprising array of left-leaning interest groups is trying to kill a wealth tax initiative before the November ballot is finalized. Gov. Gavin Newsom is at the center of negotiations. It was hardly a surprise when California billionaires revolted last year at a groundbreaking ballot proposal to tax their assets. Some left the state. Others […]
Andersen Institute for Finance & Economics
Why the Billionaire Wealth Tax Is Not the Right Answer for California’s Fiscal Problems
We just published a research paper analyzing California’s proposed Billionaire Tax. While other research has focused on arguments about how much revenue the tax would raise, this new paper concentrates most of its attention on the economic effects of the tax on the California and U.S. economies—specifically, whether a wealth tax on California’s billionaires threatens the unique […]
California Medical Association
CMA opposes Billionaire Tax Act, citing concerns over long-term Medi-Cal funding
What You Need to Know: The CMA Board of Trustees has voted to oppose the proposed Billionaire Tax Act, warning that the ballot measure would increase budget volatility, lacks accountability and is not a sustainable solution to California’s health care funding challenges. Physicians remain committed to protecting Medi-Cal and pursuing long-term funding solutions like the proposal […]