"California's health is at stake. Hospitals are closing and people will die. Why? So billionaires can get another tax cut that they don't need."
"Backers say they collected more than 1.5 million signatures, well over the roughly 875,000 they needed. California allows ballot initiative campaigns to pay people per signature they gather."
"If the measure goes before voters in November, it could prompt one of the costliest ballot fights ever and will draw national attention as a litmus test for voter attitudes on raising taxes on the rich."
A proposal in California seeks to impose a one-time, 5% tax on billionaires to generate $100 billion for healthcare funding. Backed by a labor union, the measure has gathered over 1.5 million signatures. The tax targets individuals with a net worth exceeding $1 billion as of January 1, 2026. Supporters argue it is necessary to offset federal funding cuts to healthcare for low-income individuals. The measure could lead to a significant ballot fight, attracting national attention regarding tax policies for the wealthy.
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