Ultrasound Technologist Mayra Castañeda speaks in front of healthcare workers holding placards in support of the Billionaire Tax during a media briefing in Los Angeles on April 27, 2026.
California 'One Step Closer' to Taxing Billionaires With Enough Signatures to Make Ballot
"In a nation as rich as ours, that’s the least we deserve," said one proponent of the billionaire tax.
The coalition behind a plan to tax California billionaires on Monday announced it's reached a major milestone in its efforts to get its proposed wealth tax on ballots this fall.
The California Billionaire Tax coalition revealed it has now filed more than 1.5 million signatures, or nearly twice the 875,000 signatures required to make the California Billionaire Tax Act an official state ballot initiative.
The proposed tax, which has drawn opposition from Democratic California Gov. Gavin Newsom and support from Sen. Bernie Sanders (I-Vt.), will hit the state's billionaires with a one-time 5% wealth tax that proponents say will be used to fund local hospitals, food aid, and public education.
Mayra Castañeda, an ultrasound technologist and a member of Service Employees International Union-United Healthcare Workers West (SEIU-UHW), which proposed the ballot initiative, said that the tax was essential to preserve quality of healthcare in California.
"When funding is cut, it brings a world of pain," said Castañeda. "It means longer ER waits, fewer healthcare workers, rural hospitals shutting down, delayed care, and lives lost that could have been saved. It's clear that most Californians and most billionaires recognize how reasonable and necessary this proposal is—both to keep emergency rooms open and to save California businesses from closing."
Jared Hamil, a member of Teamsters Local 396, said gathering more than 1.5 million signatures in favor of the tax means "we are one step closer to the California we deserve."
"We deserve to be able to afford to see a doctor when we’re sick," Hamil emphasized. "We deserve to know our local hospital will be open and ready to treat you in an emergency. In a nation as rich as ours, that’s the least we deserve."
A poll of California voters conducted last month by the University of California, Berkeley found that the proposed billionaire tax is broadly popular, with support outweighing opposition by a roughly two-to-one ratio.
An analysis by the Institute on Taxation and Economic Policy estimates that the tax will raise $100 billion in revenue over the next five years, which would be enough to fill the hole in California's state budget caused by the Republican-passed One Big Beautiful Bill Act that takes an ax to spending on Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
We are at a crossroads
This country and this world are at a monumental crossroads. In a few short weeks, US voters will have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. Our Fall Campaign is underway, and we need your help. To power our newsroom through the rest of the year, we need to raise $125,000 by midnight on October 31. So if you share our vision, please contribute whatever you can to sustain our work. |
The coalition behind a plan to tax California billionaires on Monday announced it's reached a major milestone in its efforts to get its proposed wealth tax on ballots this fall.
The California Billionaire Tax coalition revealed it has now filed more than 1.5 million signatures, or nearly twice the 875,000 signatures required to make the California Billionaire Tax Act an official state ballot initiative.
The proposed tax, which has drawn opposition from Democratic California Gov. Gavin Newsom and support from Sen. Bernie Sanders (I-Vt.), will hit the state's billionaires with a one-time 5% wealth tax that proponents say will be used to fund local hospitals, food aid, and public education.
Mayra Castañeda, an ultrasound technologist and a member of Service Employees International Union-United Healthcare Workers West (SEIU-UHW), which proposed the ballot initiative, said that the tax was essential to preserve quality of healthcare in California.
"When funding is cut, it brings a world of pain," said Castañeda. "It means longer ER waits, fewer healthcare workers, rural hospitals shutting down, delayed care, and lives lost that could have been saved. It's clear that most Californians and most billionaires recognize how reasonable and necessary this proposal is—both to keep emergency rooms open and to save California businesses from closing."
Jared Hamil, a member of Teamsters Local 396, said gathering more than 1.5 million signatures in favor of the tax means "we are one step closer to the California we deserve."
"We deserve to be able to afford to see a doctor when we’re sick," Hamil emphasized. "We deserve to know our local hospital will be open and ready to treat you in an emergency. In a nation as rich as ours, that’s the least we deserve."
A poll of California voters conducted last month by the University of California, Berkeley found that the proposed billionaire tax is broadly popular, with support outweighing opposition by a roughly two-to-one ratio.
An analysis by the Institute on Taxation and Economic Policy estimates that the tax will raise $100 billion in revenue over the next five years, which would be enough to fill the hole in California's state budget caused by the Republican-passed One Big Beautiful Bill Act that takes an ax to spending on Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
- Khanna Hits Back as Silicon Valley Oligarchs Threaten Primary Challenge Over California Billionaires Tax ›
- Republican Unveils Bill to Let Billionaires Escape Proposed Wealth Tax in California ›
- Sanders to Rally for Billionaire Tax in California as Crypto Industry Joins Newsom in Opposition ›
The coalition behind a plan to tax California billionaires on Monday announced it's reached a major milestone in its efforts to get its proposed wealth tax on ballots this fall.
The California Billionaire Tax coalition revealed it has now filed more than 1.5 million signatures, or nearly twice the 875,000 signatures required to make the California Billionaire Tax Act an official state ballot initiative.
The proposed tax, which has drawn opposition from Democratic California Gov. Gavin Newsom and support from Sen. Bernie Sanders (I-Vt.), will hit the state's billionaires with a one-time 5% wealth tax that proponents say will be used to fund local hospitals, food aid, and public education.
Mayra Castañeda, an ultrasound technologist and a member of Service Employees International Union-United Healthcare Workers West (SEIU-UHW), which proposed the ballot initiative, said that the tax was essential to preserve quality of healthcare in California.
"When funding is cut, it brings a world of pain," said Castañeda. "It means longer ER waits, fewer healthcare workers, rural hospitals shutting down, delayed care, and lives lost that could have been saved. It's clear that most Californians and most billionaires recognize how reasonable and necessary this proposal is—both to keep emergency rooms open and to save California businesses from closing."
Jared Hamil, a member of Teamsters Local 396, said gathering more than 1.5 million signatures in favor of the tax means "we are one step closer to the California we deserve."
"We deserve to be able to afford to see a doctor when we’re sick," Hamil emphasized. "We deserve to know our local hospital will be open and ready to treat you in an emergency. In a nation as rich as ours, that’s the least we deserve."
A poll of California voters conducted last month by the University of California, Berkeley found that the proposed billionaire tax is broadly popular, with support outweighing opposition by a roughly two-to-one ratio.
An analysis by the Institute on Taxation and Economic Policy estimates that the tax will raise $100 billion in revenue over the next five years, which would be enough to fill the hole in California's state budget caused by the Republican-passed One Big Beautiful Bill Act that takes an ax to spending on Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
- Khanna Hits Back as Silicon Valley Oligarchs Threaten Primary Challenge Over California Billionaires Tax ›
- Republican Unveils Bill to Let Billionaires Escape Proposed Wealth Tax in California ›
- Sanders to Rally for Billionaire Tax in California as Crypto Industry Joins Newsom in Opposition ›