Dossier
Secretary of State Shirley Weber
Coverage of Secretary of State Shirley Weber in the Nexus archive.
Service Employees International Union Healthcare Workers Westorganization1California billionaire tax proposaltopic1Gavin Newsomperson1California Medical Associationorganization1California School Boards Associationorganization1Sergey Brinperson1Building a Better Californiaorganization1Legislative Analyst’s Officeorganization1
- California billionaire tax proposal is slated to qualify for the November ballot
A proposal to temporarily increase taxes on billionaires in California to counter federal cuts to healthcare for low-income people has sufficient public support to qualify for the November ballot. The proposal, backed by the Service Employees International Union Healthcare Workers West, would impose a one-time, 5% tax on individuals with a net worth over $1 billion as of Jan. 1, 2026, aiming to generate $100 billion for Medicaid, food assistance, and education. Critics, including tech moguls and Governor Gavin Newsom, argue it could reduce state revenue by driving the wealthy out, and a similar 2022 measure was rejected by voters.