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"content": "\n\u003cp>Voters are getting their first chance today to weigh in on \u003ca href=\"https://www.kqed.org/news/12097032/splitting-with-state-party-san-francisco-democrats-oppose-billionaire-tax\">a statewide billionaire tax that has split Democrats\u003c/a>. That’s as proponents like Sen. Bernie Sanders, I-Vt., make their latest push to pass the measure. \u003c/p>\n\n\n\n\u003cp>Sanders, one of Proposition 40’s earliest supporters, appeared at San Francisco’s Curran Theatre on Saturday as part of a California tour promoting the tax. The event, dubbed “Ballots over Billionaires,” included former San Francisco supervisor and current candidate for state insurance commissioner Jane Kim, and U.S. Rep. Ro Khanna, who represents parts of Silicon Valley. \u003c/p>\n\n\n\n\u003cp>Sanders told a packed crowd that the initiative “deals with the most important issue facing this country,” prompting cheers and applause. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles, on Feb. 18, 2026. Sanders is seeking the support of California voters for a November ballot initiative of an emergency tax on billionaires to help the state’s healthcare system. (Patrick T. Fallon/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>“Can the American people sustain democracy, take on the greed and power of of the billionaire class and create an economy and government that works for all, or are we destined to live in an oligarchic society where our economic and political lives are controlled by a handful of the wealthiest people in the world?” Sanders said. \u003c/p>\n\n\n\n\u003cp>The measure would impose a one-time 5% tax on individuals with a net worth of more than $1 billion who lived in the state on Jan. 1, 2026. Ninety percent of the tax’s revenue — projected to be tens of billions of dollars — would go toward healthcare. The rest would be used for food assistance and education-related programs. \u003c/p>\n\n\n\n\u003cp>The initiative has won the support of the state’s Democratic Party, and a \u003ca href=\"https://www.kqed.org/news/12099825/california-billionaires-tax-has-a-slim-lead-in-new-poll-but-still-a-lot-of-work-to-do\">recent poll\u003c/a> shows it as slightly favored by likely voters. Proponents like Sanders say the tax is necessary to support the state’s healthcare system following \u003ca href=\"https://www.kqed.org/news/12084669/lurie-eyes-34-million-to-cushion-h-r-1-blows-to-medi-cal-and-calfresh\">federal cuts\u003c/a> related to the so-called One Big Beautiful Bill Act.\u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1334\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg\" alt=\"\" class=\"wp-image-12088085\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-160x107.jpeg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-1536x1025.jpeg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">Signs reading “A Billionaire Tax Now” rest on chairs at a Billionaire Tax Now rally Feb. 18, 2026. (Jason Armond/Los Angeles Times via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>But Gov. Gavin Newsom and both remaining candidates for his seat, Republican Steve Hilton and Democrat Xavier Beccera, have come out in opposition. \u003c/p>\n\n\n\n\u003cp>Some opponents say it would actually mean a decrease in revenue because it could force billionaires away. Others, like the Planned Parenthood Affiliates of California and the California Medical Association, \u003ca href=\"https://www.capradio.org/articles/2026/10/02/why-some-california-healthcare-groups-oppose-a-tax-that-would-send-90-of-its-money-to-healthcare/\">have raised concerns\u003c/a> about how the money will be distributed and how much discretion lawmakers will have about its use. \u003c/p>\n\n\n\n\n\n\u003cp>Nancy Tung, chair of the San Francisco Democratic Party, said Saturday at a virtual event hosted by the No on 40 Coalition that every Democrat in the state wants billionaires to “pay their fair share,” but that Prop 40 is not a stable or lasting solution to federal cuts. \u003c/p>\n\n\n\n\u003cp>Former U.S. Rep. Katie Porter echoed Tung’s comments at the event, saying that people are “understandably desperate” for a solution to healthcare challenges. \u003c/p>\n\n\n\n\u003cp>“Prop 40 promises to do that, but it absolutely does not,” Porter said. “In fact, it locks in a lot of the problematic aspects of our current healthcare system.” \u003c/p>\n\n\n\n\u003cp>Even if voters pass the measure, it could be moot. Two other initiatives on the ballot are Propositions 41 and 42, \u003ca href=\"https://calmatters.org/politics/2026/10/california-billionaire-tax-explainer/\">direct responses to Proposition 40 funded by billionaires\u003c/a> like Google cofounder Sergey Brin. \u003c/p>\n\n\n\n\u003cp>Prop 41 would prohibit new state taxes that exempt their revenues from the state spending limit. Prop 42 would prohibit retroactive taxes and new taxes on financial assets and personal property. If either one passes and receives more votes than Proposition 40, the billionaire tax would be nullified.\u003c/p>\n\n\n\n\u003cp>Sanders, who’s also urging people to oppose Prop 41 and 42, will finish off his support tour for the measure and progressive candidates in the state in Los Angeles tonight. \u003c/p>\n\n\n\n\u003cp>\u003cem>KQED’s \u003c/em>\u003ca href=\"https://www.kqed.org/author/jmelido\">\u003cem>Janea Melido\u003c/em>\u003c/a>\u003cem> contributed to this report.\u003c/em>\u003c/p>\n",
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"innerHTML": "\n\u003cp>Some opponents say it would actually mean a decrease in revenue because it could force billionaires away. Others, like the Planned Parenthood Affiliates of California and the California Medical Association, \u003ca href=\"https://www.capradio.org/articles/2026/10/02/why-some-california-healthcare-groups-oppose-a-tax-that-would-send-90-of-its-money-to-healthcare/\">have raised concerns\u003c/a> about how the money will be distributed and how much discretion lawmakers will have about its use. \u003c/p>\n",
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"innerHTML": "\n\u003cp>Nancy Tung, chair of the San Francisco Democratic Party, said Saturday at a virtual event hosted by the No on 40 Coalition that every Democrat in the state wants billionaires to “pay their fair share,” but that Prop 40 is not a stable or lasting solution to federal cuts. \u003c/p>\n",
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"\n\u003cp>Nancy Tung, chair of the San Francisco Democratic Party, said Saturday at a virtual event hosted by the No on 40 Coalition that every Democrat in the state wants billionaires to “pay their fair share,” but that Prop 40 is not a stable or lasting solution to federal cuts. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Former U.S. Rep. Katie Porter echoed Tung’s comments at the event, saying that people are “understandably desperate” for a solution to healthcare challenges. \u003c/p>\n",
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"\n\u003cp>Former U.S. Rep. Katie Porter echoed Tung’s comments at the event, saying that people are “understandably desperate” for a solution to healthcare challenges. \u003c/p>\n"
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"innerHTML": "\n\u003cp>“Prop 40 promises to do that, but it absolutely does not,” Porter said. “In fact, it locks in a lot of the problematic aspects of our current healthcare system.” \u003c/p>\n",
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"\n\u003cp>“Prop 40 promises to do that, but it absolutely does not,” Porter said. “In fact, it locks in a lot of the problematic aspects of our current healthcare system.” \u003c/p>\n"
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"innerHTML": "\n\u003cp>Even if voters pass the measure, it could be moot. Two other initiatives on the ballot are Propositions 41 and 42, \u003ca href=\"https://calmatters.org/politics/2026/10/california-billionaire-tax-explainer/\">direct responses to Proposition 40 funded by billionaires\u003c/a> like Google cofounder Sergey Brin. \u003c/p>\n",
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"\n\u003cp>Even if voters pass the measure, it could be moot. Two other initiatives on the ballot are Propositions 41 and 42, \u003ca href=\"https://calmatters.org/politics/2026/10/california-billionaire-tax-explainer/\">direct responses to Proposition 40 funded by billionaires\u003c/a> like Google cofounder Sergey Brin. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Prop 41 would prohibit new state taxes that exempt their revenues from the state spending limit. Prop 42 would prohibit retroactive taxes and new taxes on financial assets and personal property. If either one passes and receives more votes than Proposition 40, the billionaire tax would be nullified.\u003c/p>\n",
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"\n\u003cp>Prop 41 would prohibit new state taxes that exempt their revenues from the state spending limit. Prop 42 would prohibit retroactive taxes and new taxes on financial assets and personal property. If either one passes and receives more votes than Proposition 40, the billionaire tax would be nullified.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Sanders, who’s also urging people to oppose Prop 41 and 42, will finish off his support tour for the measure and progressive candidates in the state in Los Angeles tonight. \u003c/p>\n",
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"\n\u003cp>Sanders, who’s also urging people to oppose Prop 41 and 42, will finish off his support tour for the measure and progressive candidates in the state in Los Angeles tonight. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cem>KQED’s \u003c/em>\u003ca href=\"https://www.kqed.org/author/jmelido\">\u003cem>Janea Melido\u003c/em>\u003c/a>\u003cem> contributed to this report.\u003c/em>\u003c/p>\n",
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"excerpt": "The Nov. 3 election is less than a month away, and voters will get their first chance today to have a say on the proposal as voting starts. ",
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"title": "Bernie Sanders Makes the Case in San Francisco for Statewide Billionaire Tax | KQED",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\n\u003cp>Voters are getting their first chance today to weigh in on \u003ca href=\"https://www.kqed.org/news/12097032/splitting-with-state-party-san-francisco-democrats-oppose-billionaire-tax\">a statewide billionaire tax that has split Democrats\u003c/a>. That’s as proponents like Sen. Bernie Sanders, I-Vt., make their latest push to pass the measure. \u003c/p>\n\n\n\n\u003cp>Sanders, one of Proposition 40’s earliest supporters, appeared at San Francisco’s Curran Theatre on Saturday as part of a California tour promoting the tax. The event, dubbed “Ballots over Billionaires,” included former San Francisco supervisor and current candidate for state insurance commissioner Jane Kim, and U.S. Rep. Ro Khanna, who represents parts of Silicon Valley. \u003c/p>\n\n\n\n\u003cp>Sanders told a packed crowd that the initiative “deals with the most important issue facing this country,” prompting cheers and applause. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles, on Feb. 18, 2026. Sanders is seeking the support of California voters for a November ballot initiative of an emergency tax on billionaires to help the state’s healthcare system. (Patrick T. Fallon/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>“Can the American people sustain democracy, take on the greed and power of of the billionaire class and create an economy and government that works for all, or are we destined to live in an oligarchic society where our economic and political lives are controlled by a handful of the wealthiest people in the world?” Sanders said. \u003c/p>\n\n\n\n\u003cp>The measure would impose a one-time 5% tax on individuals with a net worth of more than $1 billion who lived in the state on Jan. 1, 2026. Ninety percent of the tax’s revenue — projected to be tens of billions of dollars — would go toward healthcare. The rest would be used for food assistance and education-related programs. \u003c/p>\n\n\n\n\u003cp>The initiative has won the support of the state’s Democratic Party, and a \u003ca href=\"https://www.kqed.org/news/12099825/california-billionaires-tax-has-a-slim-lead-in-new-poll-but-still-a-lot-of-work-to-do\">recent poll\u003c/a> shows it as slightly favored by likely voters. Proponents like Sanders say the tax is necessary to support the state’s healthcare system following \u003ca href=\"https://www.kqed.org/news/12084669/lurie-eyes-34-million-to-cushion-h-r-1-blows-to-medi-cal-and-calfresh\">federal cuts\u003c/a> related to the so-called One Big Beautiful Bill Act.\u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1334\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg\" alt=\"\" class=\"wp-image-12088085\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-160x107.jpeg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-1536x1025.jpeg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">Signs reading “A Billionaire Tax Now” rest on chairs at a Billionaire Tax Now rally Feb. 18, 2026. (Jason Armond/Los Angeles Times via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>But Gov. Gavin Newsom and both remaining candidates for his seat, Republican Steve Hilton and Democrat Xavier Beccera, have come out in opposition. \u003c/p>\n\n\n\n\u003cp>Some opponents say it would actually mean a decrease in revenue because it could force billionaires away. Others, like the Planned Parenthood Affiliates of California and the California Medical Association, \u003ca href=\"https://www.capradio.org/articles/2026/10/02/why-some-california-healthcare-groups-oppose-a-tax-that-would-send-90-of-its-money-to-healthcare/\">have raised concerns\u003c/a> about how the money will be distributed and how much discretion lawmakers will have about its use. \u003c/p>\n\n\n\n\n\n\u003cp>Nancy Tung, chair of the San Francisco Democratic Party, said Saturday at a virtual event hosted by the No on 40 Coalition that every Democrat in the state wants billionaires to “pay their fair share,” but that Prop 40 is not a stable or lasting solution to federal cuts. \u003c/p>\n\n\n\n\u003cp>Former U.S. Rep. Katie Porter echoed Tung’s comments at the event, saying that people are “understandably desperate” for a solution to healthcare challenges. \u003c/p>\n\n\n\n\u003cp>“Prop 40 promises to do that, but it absolutely does not,” Porter said. “In fact, it locks in a lot of the problematic aspects of our current healthcare system.” \u003c/p>\n\n\n\n\u003cp>Even if voters pass the measure, it could be moot. Two other initiatives on the ballot are Propositions 41 and 42, \u003ca href=\"https://calmatters.org/politics/2026/10/california-billionaire-tax-explainer/\">direct responses to Proposition 40 funded by billionaires\u003c/a> like Google cofounder Sergey Brin. \u003c/p>\n\n\n\n\u003cp>Prop 41 would prohibit new state taxes that exempt their revenues from the state spending limit. Prop 42 would prohibit retroactive taxes and new taxes on financial assets and personal property. If either one passes and receives more votes than Proposition 40, the billionaire tax would be nullified.\u003c/p>\n\n\n\n\u003cp>Sanders, who’s also urging people to oppose Prop 41 and 42, will finish off his support tour for the measure and progressive candidates in the state in Los Angeles tonight. \u003c/p>\n\n\n\n\u003cp>\u003cem>KQED’s \u003c/em>\u003ca href=\"https://www.kqed.org/author/jmelido\">\u003cem>Janea Melido\u003c/em>\u003c/a>\u003cem> contributed to this report.\u003c/em>\u003c/p>\n\u003c/div>\u003c/p>",
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"slug": "proposition-40-imposes-a-one-time-tax-on-billionaires-to-fund-healthcare-and-education",
"title": "Proposition 40: Imposes a One-Time Tax on Billionaires to Fund Healthcare and Education",
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"content": "\n\u003ch2 class=\"wp-block-heading\">Transcript\u003c/h2>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>If you live in California right now, it’s pretty hard to avoid the ads about Proposition 40, otherwise known as the billionaire tax.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>No on 40 ad clip: \u003c/strong>You have questions about the wealth tax, Prop 40. So here are some facts. Newsom, Becerra, and Hilton are all voting no, calling it sketchy policy that will damage our economy.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Yes on 40 ad clip: \u003c/strong>We must work together to pass this tax and ensure that our health care services are protected. The billionaire class cannot have it all.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Proposition 40 is a one-time 5% tax on the billionaires currently living in California. It’s a hotly debated measure with folks like Bernie Sanders and Governor Gavin Newsom taking sides.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>It’s an interesting one because traditional allies are not lining up the way you might expect on this one.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>I’m Ericka Cruz Guevarra, host of The Bay.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I’m Olivia Allen-Price, host of Bay Curious. Welcome to PropFest. It’s a new week and we’ve got six propositions left to discuss. Our teams at The Bay and Bay Curious are bringing you breakdowns of the statewide propositions on the California ballot, so you can vote with confidence in the November election.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra:\u003c/strong> There are 14 propositions on the ballot this year, and we’ll be taking you through all of them. We’ll be looking at how they got on the ballot, the arguments for and against each one, really talk about how things could play out if they pass, and the money fueling it all.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Today we’re discussing Proposition 40, a one-time tax on the wealthiest Californians. It reads like this on your ballot.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Voice Over: \u003c/strong>Prop 40 imposes one-time tax on certain taxpayers.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Here to walk us through it is KQED political correspondent and co-host of the podcast, Political Breakdown, Marisa Lagos. Welcome, Marissa. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> Hey, glad to be here. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>There’s a lot to get into on Proposition 40, but before we start on the measure itself, can you give us some context for why this is on our ballot this year?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so this dates back to last year after President Trump took office, he and Republicans in Congress passed what’s known as H.R.1 or the Big Beautiful Bill. That included a reform of the tax code that enacted massive tax cuts for the wealthiest Americans. To pay for those tax cuts, they took billions and billions of dollars out of Medicaid and assistance programs. In California, those cuts will probably be around $30 billion a year that will not be going specifically to Medi-Cal, which is California’s Medicaid program. That’s the health insurance program for low-income Americans. This is basically aimed at replacing that money. Proponents of this tax estimate it would collect around $100 billion over a five-year period. That money would basically go to backfill the cuts from the H.R.1 or the Big Beautiful Bill.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>[00:03:03] And so where does Prop 40 come into all this?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>SEIU-UHW, which is a health care union that represents a lot of rank-and-file health care workers, they saw these cuts coming and decided that they wanted to try to backfill them. And so they came up with this idea to impose a one-time tax on the billionaires in California. It would apply to anyone who has a net worth of over a billion dollars and was living in the state as of January 1 of 2026. So this is a one time tax that would sort of be paid out over a couple of years and the union says it would help essentially avoid massive cuts to the healthcare system, at least for the next few years.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how many billionaires do we have in California? And give us a sense of who these people are.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There’s an estimated 200 or so people like Larry Page and Sergey Brin who founded Google, Mark Zuckerberg of Meta. Basically the people you hear about the most as being the wealthiest kind of Silicon Valley folks are the ones who are going to be subject to this tax if it passes.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they assessing wealth in this scenario? Because I understand this is like, it’s a little bit interesting how they’re planning to get at the wealth of these people because it’s not necessarily the way that sort of everyday people hold their cash.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos \u003c/strong>[00:04:16] Right, so maybe to back up, let’s just talk a little bit about how we pay taxes as sort of average working people, right? If you and I make a salary out of every paycheck, there’s an income tax that is taken by the state. If we have money in the stock market and we sell that stock and we make some capital gains, we would pay based on those capital gains that we realized. And then of course, there are things like property taxes, sales taxes, other things. \u003c/p>\n\n\n\n\u003cp>The critique of billionaires and really wealthy people is that they don’t make money through the same way that normal people do, right? I think there’s been reporting that Jeff Bezos’ Amazon salary, for example, is like $85,000. So he might actually qualify for some low-income programs based on that. But a lot of the ways that these folks have built their wealth is through stocks and other assets that are being played on Wall Street. And they don’t sort of realize the increase in those numbers unless they were to go and sell them. \u003c/p>\n\n\n\n\u003cp>So how do these billionaires pay for their yachts and their mansions? Well, if you’re that rich, you don’t need an income to essentially go to a bank and say, “hey, look, I’m worth a billion dollars, two billion dollars 100 billion dollars. So you should just give me some loans,” and they get basically loans in really low rates that the rest of us wouldn’t qualify for that help pay for life styles. \u003c/p>\n\n\n\n\u003cp>This tax would say when you file your taxes as a California resident, you have to check a box to declare whether you’re worth more than a billion dollars. And if you are worth more than a billion dollars, it essentially wants you to tell them how much that overall wealth is. So how much money do you have in your Google stocks if you’re a Sergey brand? How much money have you invested in other companies? You know, if you were Elon Musk, it would be Tesla and SpaceX. And then they want to impose a 5% tax on that overall wealth. So this is a really different kind of novel approach that is not how we have historically taxed people in the United States in general. \u003c/p>\n\n\n\n\u003cp>For Dave Reagan — who is the head of the union and the guy who basically wrote this proposition — this is like a really simple argument.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Just so everyone understands, the billionaires in California pay a tiny percentage of their financial holdings in income tax. They pay two and a half percent. \u003c/p>\n\n\n\n\u003cp> \u003cstrong>Marisa Lagos: \u003c/strong>When you look at sort of what we pay as average Californians and our income tax rates and others, and you compare that to the overall wealth of these folks and how little they pay, that this is just like a simple math problem that this proposition would help fix.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Seven years ago in 2019, the aggregate wealth of California billionaires was $700 billion. Today it’s $2.3 trillion. It has more than tripled in the last seven years. Your wages aren’t tripling. My wages aren’t tripling. I don’t know anybody whose salary is tripling.”\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they Proposing that the money from this one-time tax be used?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>It’s actually pretty vague in the measure. It says that 90% of it would go to healthcare, and then the legislature would have a lot of say over how that money is actually allocated, aimed at helping all those people who would be losing their healthcare or access to it because of the federal cuts. 10% is set aside for other programs, namely food assistance, which was also cut by HR1, as well as schools.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>But I understand, like, one critique is that because it is more vague or it’s left to legislators to spend, Californians to some degree, like don’t know exactly what they’re getting with this tax.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, I think that’s right. The health care system is incredibly expensive and complicated. And I think, you know, because of the way HR1 was written, there’s also a lot of uncertainty in how it’ll actually be carried out. And so I do think that some of that flexibility was built in to account for what we don’t know about how the HR1 cuts would actually play out.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And now, I know you’ve spoken to some of the people who are behind this measure, who wrote it. Why are they proposing this as a one-time tax and not something ongoing?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, this is a question I really had because it seems like if you’re trying to push back on what are permanent federal cuts, you would want something permanent yourself. And that also, if you are going to go to the trouble of picking this very big fight with the most wealthy people, really in the world, that like, is it worth it for one time? But when I sat down with Dave Reagan, he said that there’s a couple of reasons. One was that he wanted this to be a one-time thing. He didn’t want to give billionaires an incentive to leave California to avoid this. He understands that we are part of a 50 state system and that these are people who can move their wealth.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>We wanted to fix a crisis, solve a problem, and then have enough time to figure out what’s the permanent solution. We wanted, to the extent possible, to take the issue off the table, that the billionaires threatening everybody that they’re gonna leave, there is no incentive for them to leave under our proposal.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>The other thing that he and proponents say is that they don’t think these will be permanent cuts, that they want to get Democrats back in power in Congress and win the White House in 2028, and that they wanna see those cuts restored at the federal level, that that is the better way to be funding them. And so they felt that this should just be a one-time tax in order to kind of bridge that gap that they hope is a gap and not a permanent reduction.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ve got to take a quick break, but when we return, more on Proposition 40, including what those opposing it are saying. Stay with us. \u003c/p>\n\n\n\n\u003cp>\u003cem>Sponsor messages\u003c/em>\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And we’re back with Prop Fest, talking proposition 40. Marisa, other than the union that put this on the ballot, who else is supporting Prop 40 and why? \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So in addition to SEIU-UHW, you do have some of the biggest progressive national voices supporting this. Senator Bernie Sanders of Vermont. In the Bay Area, U.S. Representative Ro Khanna is behind it. The California Federation of Labor, which represents, you know, thousands of unions, did vote to endorse it. The California Democratic Party did vote to endorse Prop 40, but it is largely being driven by SEIU-UHW. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>All right, and then who is against it? And what are they arguing?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa:\u003c/strong> Everybody else in California. So at the top of the list are the billionaires. Sergey Brin has really taken the lead on this. He’s donated the most money and helped create some organizations that are really funneling money to oppose Prop 40 and push two other ballot measures that they put on the ballot in order to try to undercut Prop 40. But in addition to the billionaires themselves, you do have a really interesting list of folks up to Governor Gavin Newsom who says he opposes this tax. Most of the more high-profile Democrats in California, so in addition to Newsom, you have Xavier Becerra, the likely next governor. You have a lot of people in the legislature and others who are opposing it. And then you have some kind of surprising names. You have the California Teachers Association. You have Planned Parenthood of California. You have some other unions, firefighters and police officers and others that traditionally would probably be on the side of these taxes. \u003c/p>\n\n\n\n\u003cp>And then, of course, groups you would expect. The Howard Jarvis Taxpayers Association, the California Republican Party, conservative groups who generally just oppose raising taxes in any way.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>That’s such an eclectic group. What are their arguments against this measure?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so we’ve really seen a lot of frustration by the governor on down at the fact that this was pushed through. And I think what they say is that it is a poorly designed one-time measure that potentially has the effect of hurting the progressive movement long-term. So their arguments include the idea that it’s gonna be hard to enforce, that this is like only a one-time thing for this ongoing problem, that it could actually essentially hurt California’s ability to stay competitive and to really, you know, be an innovator in the tech space, especially as we see this AI boom happening, that this will sort of scare people off. Newsom himself is trying to thread this needle where he says that he does support a national wealth tax. But that it’s just not the right way to do it at the state level. That this should be a national attack so that you wouldn’t have the ability to sort of avoid it by moving somewhere else.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>One concern that I keep reading about this, Prop 40, is how it could impact California in the future. Can you explain?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>One of the bigger arguments against it, too, is this idea that it could do longer-term damage to the state budget. If, indeed, you buy the argument that this will drive billionaires out of California or other wealthy people, even if it’s not to avoid this one-time tax, but that it’s just creating an environment that is less, you know, that is hostile to developing businesses, the concern is that if you have a lot of wealthy people flee the state, that would result in a huge hit to the state’s operating budget every single year. \u003c/p>\n\n\n\n\u003cp>I spoke to Joshua Rauh. He’s a Stanford University Finance Professor, a senior fellow at the Hoover Institute and he is very critical of Prop 40.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Joshua Rauh: \u003c/strong>The costs, in this case, with the billionaire tax are that we’re driving billionaires out of the state and we’re also discouraging new entrepreneurs from growing their businesses here. And so that’s really the way to see it. The benefits would potentially be revenue, but we calculate that actually the state’s gonna lose $25 billion from doing this tax.\u003cbr>\u003cstrong>Olivia Allen-Price:\u003c/strong> Mmm so essentially the concern is this wealth tax could drive rich people out of the state, and so California would lose out on the yearly taxes they do pay.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> We do have a very progressive tax system here. The highest earners do pay the most into the state budget. And if that pool of folks shrinks, it could have an impact on overall spending every year, which of course goes not just to healthcare, but to. Police and fire and education and all these other areas. So I think part of what Newsom and a lot of the people on his side of things on the Democratic side who oppose this are worried about is that in the short term, this would help shore up the healthcare system, but in the long term, it would really undercut our overall ability to support all those programs that people depend on.\u003c/p>\n\n\n\n\u003cp>Another issue Rauh takes with Prop 40 is with how it may force billionaires to make more of their money liquid.\u003cbr>\u003cbr>\u003cstrong>Joshua Rauh: \u003c/strong> If someone has a business that has a value of $1 billion, they’re going to be subject to this tax. They’re going to have to pay $50 million because of this tax, and they may not have that money liquid. That means that they’re gonna have to actually sell off some of this company and you know that that actually removes capital from growing companies. It’s bad for the companies and bad for economy. It’s bad to the labor force.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Now I understand that this would be the first of its kind tax if this is passed in the United States, but similar stuff has been tried elsewhere.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There was an attempt a few decades ago to levy wealth taxes in some European countries. Most of those, I believe, were repealed. They were much broader. They were not just aimed at billionaires. Billionaires didn’t actually exist in the 90s, let’s not forget. So I think one of what you’ll hear from critics is that you should look at a place like France, which abolished its tax in 2018. After they did see sort of an exodus of a lot of businesses and business people who brought in, you know, a lot money. The flip side to that is that, you know, this is a one-time tax. It is in a state that is the center of these industries.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Now we’re gonna get into props 41 and 42 in detail in some future episodes, but because they are related to prop 40, can you briefly explain how they conflict?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, both Prop 41 and 42 have various other provisions, but they include language that says if they get more votes than Proposition 40, they supersede it. And in both cases, they would sort of undercut key provisions in Prop 40, and essentially make it impossible for the state to enforce the billionaire tax. So if all three pass, but 40 gets fewer votes, it essentially is like it didn’t pass in a lot of ways.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And like we mentioned at the top of this episode, there have been a lot of ads about this measure, which means money. How is campaign spending shaking out on this?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So there has been money spent so far, and you might already feel like you’re seeing a lot of ads, but actually how much has been spent pales in comparison to what’s going to be spent. There are some estimates that this could be the most expensive ballot measure campaign in state history, so those ads you’re seeing are not going away anytime soon. \u003c/p>\n\n\n\n\u003cp>On the pro side, the healthcare unions, their allies, have spent, I think, over $30 million by the end of August. \u003c/p>\n\n\n\n\u003cp>On the other side, just the committee created by the billionaires to fight Prop 40 and push those other competing ballot measures, it’s called Building A Better California, they’ve raised $118 million so far. Most of that has not been spent, a little less than the other side has been spent so far, around $21 million. But they have reserved $87 million in TV and radio time leading up to the fall election. And so you can expect that money is all going to be put out there. Obviously these billionaires have a lot of money and that’s just the money that they’ve put in so far.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I understand that this proposition is polling pretty close right now. So it could seem like a good investment if you can move a couple of voters this way or that.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>A hundred percent. I mean, what we’ve seen is that more Californians in these polls tend to favor this than oppose it. However, those numbers are pretty squishy. The kind of common wisdom is that if you’re going into a ballot measure campaign with a well-funded opposition, you want to start around 60% support. This is more in the mid to low fifties in terms of the support and some of the public polling we’ve seen. For both sides, people just get fatigued when they hear too much about any ballot measure and they start getting angry. And that sometimes can lead people to vote no, but if all they’re hearing is a no message, does that flip them the other way? I think there’s a saturation point that the campaigns may have to be concerned about on either side.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Marisa Lagos is a political correspondent at KQED and co-host of the podcas, Political Breakdown. Thanks, Marisa.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>My pleasure.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>In a nutshell, a vote yes on Prop 40 means you want to levy a one-time tax of 5% on California’s 200 billionaires, with 90% of the revenue going to support health care in the state, and the other 10% going to fund public education and food assistance programs. A no vote means you do not want to levy a one time tax on billionaires. \u003c/p>\n\n\n\n\u003cp>If you wanna hear more about Prop 40, the billionaire tax, check out Marisa’s podcast, Political Breakdown. She has in-depth interviews with Dave Reagan, who authored Prop 40 and Joshua Rauh, a Stanford economist who’s critical of it. You can find both in the Political Break Down podcast feed and we’ll link in our show notes. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>That’s it for our latest episode of PropFest. How we doing? How we feeling? Feeling smarter? Feeling ready to vote? Well, there’s plenty more where that came from. From now until October 9th, the Bay and Bay Curious teams here at KQED are going to be dropping breakdowns of all the statewide propositions on the ballot this year to leave you feeling ready to vote this November. Stay locked in and make sure you’re subscribed to the Bay and be curious so you don’t miss out on the next ones.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Prop Fest is a collaboration between The Bay and Bay Curious podcasts. It is produced by: Alan Montecillo, Ericka Cruz Guevarra, Gabriella Glueck, Pauline Bartolone, Katrina Schwartz, Christopher Beale, Anna Casalme, and me, Olivia Allen-Price\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>We get extra support from, Katie Sprenger, Jen Chien, Maha Sanad, Ethan Toven-Lindsey and the whole KQED family.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>You can find audio and transcripts for this series at kqed.org slash propfest.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Our show is made in San Francisco at member-supported KQED. If you value podcasts like this one, please consider becoming a sustaining KQED member. Learn more at donate.kqed.org slash podcasts. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Some members of the KQED podcast team are represented by The Screen Actors Guild, American Federation of Television and Radio Artists, San Francisco-Northern California Local.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Support for the Bay is provided in part by the Osher Production Fund.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>I’m Olivia Allen-Price. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>And I’m Erika Cruz-Gabara. We’ll be back tomorrow with an explainer on Proposition 41, which takes aim at new special taxes, including the billionaire tax we just talked about. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ll see you then!\u003c/p>\n",
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>If you live in California right now, it’s pretty hard to avoid the ads about Proposition 40, otherwise known as the billionaire tax.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>If you live in California right now, it’s pretty hard to avoid the ads about Proposition 40, otherwise known as the billionaire tax.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>No on 40 ad clip: \u003c/strong>You have questions about the wealth tax, Prop 40. So here are some facts. Newsom, Becerra, and Hilton are all voting no, calling it sketchy policy that will damage our economy.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>No on 40 ad clip: \u003c/strong>You have questions about the wealth tax, Prop 40. So here are some facts. Newsom, Becerra, and Hilton are all voting no, calling it sketchy policy that will damage our economy.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Yes on 40 ad clip: \u003c/strong>We must work together to pass this tax and ensure that our health care services are protected. The billionaire class cannot have it all.\u003c/p>\n",
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Proposition 40 is a one-time 5% tax on the billionaires currently living in California. It’s a hotly debated measure with folks like Bernie Sanders and Governor Gavin Newsom taking sides.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Proposition 40 is a one-time 5% tax on the billionaires currently living in California. It’s a hotly debated measure with folks like Bernie Sanders and Governor Gavin Newsom taking sides.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>It’s an interesting one because traditional allies are not lining up the way you might expect on this one.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>It’s an interesting one because traditional allies are not lining up the way you might expect on this one.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>I’m Ericka Cruz Guevarra, host of The Bay.\u003c/p>\n",
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I’m Olivia Allen-Price, host of Bay Curious. Welcome to PropFest. It’s a new week and we’ve got six propositions left to discuss. Our teams at The Bay and Bay Curious are bringing you breakdowns of the statewide propositions on the California ballot, so you can vote with confidence in the November election.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I’m Olivia Allen-Price, host of Bay Curious. Welcome to PropFest. It’s a new week and we’ve got six propositions left to discuss. Our teams at The Bay and Bay Curious are bringing you breakdowns of the statewide propositions on the California ballot, so you can vote with confidence in the November election.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra:\u003c/strong> There are 14 propositions on the ballot this year, and we’ll be taking you through all of them. We’ll be looking at how they got on the ballot, the arguments for and against each one, really talk about how things could play out if they pass, and the money fueling it all.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Ericka Cruz Guevarra:\u003c/strong> There are 14 propositions on the ballot this year, and we’ll be taking you through all of them. We’ll be looking at how they got on the ballot, the arguments for and against each one, really talk about how things could play out if they pass, and the money fueling it all.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Today we’re discussing Proposition 40, a one-time tax on the wealthiest Californians. It reads like this on your ballot.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Today we’re discussing Proposition 40, a one-time tax on the wealthiest Californians. It reads like this on your ballot.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Voice Over: \u003c/strong>Prop 40 imposes one-time tax on certain taxpayers.\u003c/p>\n",
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Here to walk us through it is KQED political correspondent and co-host of the podcast, Political Breakdown, Marisa Lagos. Welcome, Marissa. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Here to walk us through it is KQED political correspondent and co-host of the podcast, Political Breakdown, Marisa Lagos. Welcome, Marissa. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> Hey, glad to be here. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> Hey, glad to be here. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>There’s a lot to get into on Proposition 40, but before we start on the measure itself, can you give us some context for why this is on our ballot this year?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>There’s a lot to get into on Proposition 40, but before we start on the measure itself, can you give us some context for why this is on our ballot this year?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so this dates back to last year after President Trump took office, he and Republicans in Congress passed what’s known as H.R.1 or the Big Beautiful Bill. That included a reform of the tax code that enacted massive tax cuts for the wealthiest Americans. To pay for those tax cuts, they took billions and billions of dollars out of Medicaid and assistance programs. In California, those cuts will probably be around $30 billion a year that will not be going specifically to Medi-Cal, which is California’s Medicaid program. That’s the health insurance program for low-income Americans. This is basically aimed at replacing that money. Proponents of this tax estimate it would collect around $100 billion over a five-year period. That money would basically go to backfill the cuts from the H.R.1 or the Big Beautiful Bill.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so this dates back to last year after President Trump took office, he and Republicans in Congress passed what’s known as H.R.1 or the Big Beautiful Bill. That included a reform of the tax code that enacted massive tax cuts for the wealthiest Americans. To pay for those tax cuts, they took billions and billions of dollars out of Medicaid and assistance programs. In California, those cuts will probably be around $30 billion a year that will not be going specifically to Medi-Cal, which is California’s Medicaid program. That’s the health insurance program for low-income Americans. This is basically aimed at replacing that money. Proponents of this tax estimate it would collect around $100 billion over a five-year period. That money would basically go to backfill the cuts from the H.R.1 or the Big Beautiful Bill.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>[00:03:03] And so where does Prop 40 come into all this?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>[00:03:03] And so where does Prop 40 come into all this?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>SEIU-UHW, which is a health care union that represents a lot of rank-and-file health care workers, they saw these cuts coming and decided that they wanted to try to backfill them. And so they came up with this idea to impose a one-time tax on the billionaires in California. It would apply to anyone who has a net worth of over a billion dollars and was living in the state as of January 1 of 2026. So this is a one time tax that would sort of be paid out over a couple of years and the union says it would help essentially avoid massive cuts to the healthcare system, at least for the next few years.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>SEIU-UHW, which is a health care union that represents a lot of rank-and-file health care workers, they saw these cuts coming and decided that they wanted to try to backfill them. And so they came up with this idea to impose a one-time tax on the billionaires in California. It would apply to anyone who has a net worth of over a billion dollars and was living in the state as of January 1 of 2026. So this is a one time tax that would sort of be paid out over a couple of years and the union says it would help essentially avoid massive cuts to the healthcare system, at least for the next few years.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how many billionaires do we have in California? And give us a sense of who these people are.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how many billionaires do we have in California? And give us a sense of who these people are.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There’s an estimated 200 or so people like Larry Page and Sergey Brin who founded Google, Mark Zuckerberg of Meta. Basically the people you hear about the most as being the wealthiest kind of Silicon Valley folks are the ones who are going to be subject to this tax if it passes.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There’s an estimated 200 or so people like Larry Page and Sergey Brin who founded Google, Mark Zuckerberg of Meta. Basically the people you hear about the most as being the wealthiest kind of Silicon Valley folks are the ones who are going to be subject to this tax if it passes.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they assessing wealth in this scenario? Because I understand this is like, it’s a little bit interesting how they’re planning to get at the wealth of these people because it’s not necessarily the way that sort of everyday people hold their cash.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they assessing wealth in this scenario? Because I understand this is like, it’s a little bit interesting how they’re planning to get at the wealth of these people because it’s not necessarily the way that sort of everyday people hold their cash.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos \u003c/strong>[00:04:16] Right, so maybe to back up, let’s just talk a little bit about how we pay taxes as sort of average working people, right? If you and I make a salary out of every paycheck, there’s an income tax that is taken by the state. If we have money in the stock market and we sell that stock and we make some capital gains, we would pay based on those capital gains that we realized. And then of course, there are things like property taxes, sales taxes, other things. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos \u003c/strong>[00:04:16] Right, so maybe to back up, let’s just talk a little bit about how we pay taxes as sort of average working people, right? If you and I make a salary out of every paycheck, there’s an income tax that is taken by the state. If we have money in the stock market and we sell that stock and we make some capital gains, we would pay based on those capital gains that we realized. And then of course, there are things like property taxes, sales taxes, other things. \u003c/p>\n"
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"innerHTML": "\n\u003cp>The critique of billionaires and really wealthy people is that they don’t make money through the same way that normal people do, right? I think there’s been reporting that Jeff Bezos’ Amazon salary, for example, is like $85,000. So he might actually qualify for some low-income programs based on that. But a lot of the ways that these folks have built their wealth is through stocks and other assets that are being played on Wall Street. And they don’t sort of realize the increase in those numbers unless they were to go and sell them. \u003c/p>\n",
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"\n\u003cp>The critique of billionaires and really wealthy people is that they don’t make money through the same way that normal people do, right? I think there’s been reporting that Jeff Bezos’ Amazon salary, for example, is like $85,000. So he might actually qualify for some low-income programs based on that. But a lot of the ways that these folks have built their wealth is through stocks and other assets that are being played on Wall Street. And they don’t sort of realize the increase in those numbers unless they were to go and sell them. \u003c/p>\n"
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"innerHTML": "\n\u003cp>So how do these billionaires pay for their yachts and their mansions? Well, if you’re that rich, you don’t need an income to essentially go to a bank and say, “hey, look, I’m worth a billion dollars, two billion dollars 100 billion dollars. So you should just give me some loans,” and they get basically loans in really low rates that the rest of us wouldn’t qualify for that help pay for life styles. \u003c/p>\n",
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"\n\u003cp>So how do these billionaires pay for their yachts and their mansions? Well, if you’re that rich, you don’t need an income to essentially go to a bank and say, “hey, look, I’m worth a billion dollars, two billion dollars 100 billion dollars. So you should just give me some loans,” and they get basically loans in really low rates that the rest of us wouldn’t qualify for that help pay for life styles. \u003c/p>\n"
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"innerHTML": "\n\u003cp>This tax would say when you file your taxes as a California resident, you have to check a box to declare whether you’re worth more than a billion dollars. And if you are worth more than a billion dollars, it essentially wants you to tell them how much that overall wealth is. So how much money do you have in your Google stocks if you’re a Sergey brand? How much money have you invested in other companies? You know, if you were Elon Musk, it would be Tesla and SpaceX. And then they want to impose a 5% tax on that overall wealth. So this is a really different kind of novel approach that is not how we have historically taxed people in the United States in general. \u003c/p>\n",
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"\n\u003cp>This tax would say when you file your taxes as a California resident, you have to check a box to declare whether you’re worth more than a billion dollars. And if you are worth more than a billion dollars, it essentially wants you to tell them how much that overall wealth is. So how much money do you have in your Google stocks if you’re a Sergey brand? How much money have you invested in other companies? You know, if you were Elon Musk, it would be Tesla and SpaceX. And then they want to impose a 5% tax on that overall wealth. So this is a really different kind of novel approach that is not how we have historically taxed people in the United States in general. \u003c/p>\n"
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"innerHTML": "\n\u003cp>For Dave Reagan — who is the head of the union and the guy who basically wrote this proposition — this is like a really simple argument.\u003c/p>\n",
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"\n\u003cp>For Dave Reagan — who is the head of the union and the guy who basically wrote this proposition — this is like a really simple argument.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Just so everyone understands, the billionaires in California pay a tiny percentage of their financial holdings in income tax. They pay two and a half percent. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Just so everyone understands, the billionaires in California pay a tiny percentage of their financial holdings in income tax. They pay two and a half percent. \u003c/p>\n"
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"innerHTML": "\n\u003cp> \u003cstrong>Marisa Lagos: \u003c/strong>When you look at sort of what we pay as average Californians and our income tax rates and others, and you compare that to the overall wealth of these folks and how little they pay, that this is just like a simple math problem that this proposition would help fix.\u003c/p>\n",
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"\n\u003cp> \u003cstrong>Marisa Lagos: \u003c/strong>When you look at sort of what we pay as average Californians and our income tax rates and others, and you compare that to the overall wealth of these folks and how little they pay, that this is just like a simple math problem that this proposition would help fix.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Seven years ago in 2019, the aggregate wealth of California billionaires was $700 billion. Today it’s $2.3 trillion. It has more than tripled in the last seven years. Your wages aren’t tripling. My wages aren’t tripling. I don’t know anybody whose salary is tripling.”\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Seven years ago in 2019, the aggregate wealth of California billionaires was $700 billion. Today it’s $2.3 trillion. It has more than tripled in the last seven years. Your wages aren’t tripling. My wages aren’t tripling. I don’t know anybody whose salary is tripling.”\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they Proposing that the money from this one-time tax be used?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they Proposing that the money from this one-time tax be used?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>It’s actually pretty vague in the measure. It says that 90% of it would go to healthcare, and then the legislature would have a lot of say over how that money is actually allocated, aimed at helping all those people who would be losing their healthcare or access to it because of the federal cuts. 10% is set aside for other programs, namely food assistance, which was also cut by HR1, as well as schools.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>It’s actually pretty vague in the measure. It says that 90% of it would go to healthcare, and then the legislature would have a lot of say over how that money is actually allocated, aimed at helping all those people who would be losing their healthcare or access to it because of the federal cuts. 10% is set aside for other programs, namely food assistance, which was also cut by HR1, as well as schools.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>But I understand, like, one critique is that because it is more vague or it’s left to legislators to spend, Californians to some degree, like don’t know exactly what they’re getting with this tax.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>But I understand, like, one critique is that because it is more vague or it’s left to legislators to spend, Californians to some degree, like don’t know exactly what they’re getting with this tax.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, I think that’s right. The health care system is incredibly expensive and complicated. And I think, you know, because of the way HR1 was written, there’s also a lot of uncertainty in how it’ll actually be carried out. And so I do think that some of that flexibility was built in to account for what we don’t know about how the HR1 cuts would actually play out.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, I think that’s right. The health care system is incredibly expensive and complicated. And I think, you know, because of the way HR1 was written, there’s also a lot of uncertainty in how it’ll actually be carried out. And so I do think that some of that flexibility was built in to account for what we don’t know about how the HR1 cuts would actually play out.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And now, I know you’ve spoken to some of the people who are behind this measure, who wrote it. Why are they proposing this as a one-time tax and not something ongoing?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And now, I know you’ve spoken to some of the people who are behind this measure, who wrote it. Why are they proposing this as a one-time tax and not something ongoing?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, this is a question I really had because it seems like if you’re trying to push back on what are permanent federal cuts, you would want something permanent yourself. And that also, if you are going to go to the trouble of picking this very big fight with the most wealthy people, really in the world, that like, is it worth it for one time? But when I sat down with Dave Reagan, he said that there’s a couple of reasons. One was that he wanted this to be a one-time thing. He didn’t want to give billionaires an incentive to leave California to avoid this. He understands that we are part of a 50 state system and that these are people who can move their wealth.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, this is a question I really had because it seems like if you’re trying to push back on what are permanent federal cuts, you would want something permanent yourself. And that also, if you are going to go to the trouble of picking this very big fight with the most wealthy people, really in the world, that like, is it worth it for one time? But when I sat down with Dave Reagan, he said that there’s a couple of reasons. One was that he wanted this to be a one-time thing. He didn’t want to give billionaires an incentive to leave California to avoid this. He understands that we are part of a 50 state system and that these are people who can move their wealth.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>We wanted to fix a crisis, solve a problem, and then have enough time to figure out what’s the permanent solution. We wanted, to the extent possible, to take the issue off the table, that the billionaires threatening everybody that they’re gonna leave, there is no incentive for them to leave under our proposal.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>We wanted to fix a crisis, solve a problem, and then have enough time to figure out what’s the permanent solution. We wanted, to the extent possible, to take the issue off the table, that the billionaires threatening everybody that they’re gonna leave, there is no incentive for them to leave under our proposal.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>The other thing that he and proponents say is that they don’t think these will be permanent cuts, that they want to get Democrats back in power in Congress and win the White House in 2028, and that they wanna see those cuts restored at the federal level, that that is the better way to be funding them. And so they felt that this should just be a one-time tax in order to kind of bridge that gap that they hope is a gap and not a permanent reduction.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>The other thing that he and proponents say is that they don’t think these will be permanent cuts, that they want to get Democrats back in power in Congress and win the White House in 2028, and that they wanna see those cuts restored at the federal level, that that is the better way to be funding them. And so they felt that this should just be a one-time tax in order to kind of bridge that gap that they hope is a gap and not a permanent reduction.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ve got to take a quick break, but when we return, more on Proposition 40, including what those opposing it are saying. Stay with us. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ve got to take a quick break, but when we return, more on Proposition 40, including what those opposing it are saying. Stay with us. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cem>Sponsor messages\u003c/em>\u003c/p>\n",
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"\n\u003cp>\u003cem>Sponsor messages\u003c/em>\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And we’re back with Prop Fest, talking proposition 40. Marisa, other than the union that put this on the ballot, who else is supporting Prop 40 and why? \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And we’re back with Prop Fest, talking proposition 40. Marisa, other than the union that put this on the ballot, who else is supporting Prop 40 and why? \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So in addition to SEIU-UHW, you do have some of the biggest progressive national voices supporting this. Senator Bernie Sanders of Vermont. In the Bay Area, U.S. Representative Ro Khanna is behind it. The California Federation of Labor, which represents, you know, thousands of unions, did vote to endorse it. The California Democratic Party did vote to endorse Prop 40, but it is largely being driven by SEIU-UHW. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So in addition to SEIU-UHW, you do have some of the biggest progressive national voices supporting this. Senator Bernie Sanders of Vermont. In the Bay Area, U.S. Representative Ro Khanna is behind it. The California Federation of Labor, which represents, you know, thousands of unions, did vote to endorse it. The California Democratic Party did vote to endorse Prop 40, but it is largely being driven by SEIU-UHW. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>All right, and then who is against it? And what are they arguing?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>All right, and then who is against it? And what are they arguing?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa:\u003c/strong> Everybody else in California. So at the top of the list are the billionaires. Sergey Brin has really taken the lead on this. He’s donated the most money and helped create some organizations that are really funneling money to oppose Prop 40 and push two other ballot measures that they put on the ballot in order to try to undercut Prop 40. But in addition to the billionaires themselves, you do have a really interesting list of folks up to Governor Gavin Newsom who says he opposes this tax. Most of the more high-profile Democrats in California, so in addition to Newsom, you have Xavier Becerra, the likely next governor. You have a lot of people in the legislature and others who are opposing it. And then you have some kind of surprising names. You have the California Teachers Association. You have Planned Parenthood of California. You have some other unions, firefighters and police officers and others that traditionally would probably be on the side of these taxes. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa:\u003c/strong> Everybody else in California. So at the top of the list are the billionaires. Sergey Brin has really taken the lead on this. He’s donated the most money and helped create some organizations that are really funneling money to oppose Prop 40 and push two other ballot measures that they put on the ballot in order to try to undercut Prop 40. But in addition to the billionaires themselves, you do have a really interesting list of folks up to Governor Gavin Newsom who says he opposes this tax. Most of the more high-profile Democrats in California, so in addition to Newsom, you have Xavier Becerra, the likely next governor. You have a lot of people in the legislature and others who are opposing it. And then you have some kind of surprising names. You have the California Teachers Association. You have Planned Parenthood of California. You have some other unions, firefighters and police officers and others that traditionally would probably be on the side of these taxes. \u003c/p>\n"
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"innerHTML": "\n\u003cp>And then, of course, groups you would expect. The Howard Jarvis Taxpayers Association, the California Republican Party, conservative groups who generally just oppose raising taxes in any way.\u003c/p>\n",
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"\n\u003cp>And then, of course, groups you would expect. The Howard Jarvis Taxpayers Association, the California Republican Party, conservative groups who generally just oppose raising taxes in any way.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>That’s such an eclectic group. What are their arguments against this measure?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>That’s such an eclectic group. What are their arguments against this measure?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so we’ve really seen a lot of frustration by the governor on down at the fact that this was pushed through. And I think what they say is that it is a poorly designed one-time measure that potentially has the effect of hurting the progressive movement long-term. So their arguments include the idea that it’s gonna be hard to enforce, that this is like only a one-time thing for this ongoing problem, that it could actually essentially hurt California’s ability to stay competitive and to really, you know, be an innovator in the tech space, especially as we see this AI boom happening, that this will sort of scare people off. Newsom himself is trying to thread this needle where he says that he does support a national wealth tax. But that it’s just not the right way to do it at the state level. That this should be a national attack so that you wouldn’t have the ability to sort of avoid it by moving somewhere else.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so we’ve really seen a lot of frustration by the governor on down at the fact that this was pushed through. And I think what they say is that it is a poorly designed one-time measure that potentially has the effect of hurting the progressive movement long-term. So their arguments include the idea that it’s gonna be hard to enforce, that this is like only a one-time thing for this ongoing problem, that it could actually essentially hurt California’s ability to stay competitive and to really, you know, be an innovator in the tech space, especially as we see this AI boom happening, that this will sort of scare people off. Newsom himself is trying to thread this needle where he says that he does support a national wealth tax. But that it’s just not the right way to do it at the state level. That this should be a national attack so that you wouldn’t have the ability to sort of avoid it by moving somewhere else.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>One concern that I keep reading about this, Prop 40, is how it could impact California in the future. Can you explain?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>One concern that I keep reading about this, Prop 40, is how it could impact California in the future. Can you explain?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>One of the bigger arguments against it, too, is this idea that it could do longer-term damage to the state budget. If, indeed, you buy the argument that this will drive billionaires out of California or other wealthy people, even if it’s not to avoid this one-time tax, but that it’s just creating an environment that is less, you know, that is hostile to developing businesses, the concern is that if you have a lot of wealthy people flee the state, that would result in a huge hit to the state’s operating budget every single year. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>One of the bigger arguments against it, too, is this idea that it could do longer-term damage to the state budget. If, indeed, you buy the argument that this will drive billionaires out of California or other wealthy people, even if it’s not to avoid this one-time tax, but that it’s just creating an environment that is less, you know, that is hostile to developing businesses, the concern is that if you have a lot of wealthy people flee the state, that would result in a huge hit to the state’s operating budget every single year. \u003c/p>\n"
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"innerHTML": "\n\u003cp>I spoke to Joshua Rauh. He’s a Stanford University Finance Professor, a senior fellow at the Hoover Institute and he is very critical of Prop 40.\u003c/p>\n",
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"innerHTML": "\n\u003cp>\u003cstrong>Joshua Rauh: \u003c/strong>The costs, in this case, with the billionaire tax are that we’re driving billionaires out of the state and we’re also discouraging new entrepreneurs from growing their businesses here. And so that’s really the way to see it. The benefits would potentially be revenue, but we calculate that actually the state’s gonna lose $25 billion from doing this tax.\u003cbr>\u003cstrong>Olivia Allen-Price:\u003c/strong> Mmm so essentially the concern is this wealth tax could drive rich people out of the state, and so California would lose out on the yearly taxes they do pay.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Joshua Rauh: \u003c/strong>The costs, in this case, with the billionaire tax are that we’re driving billionaires out of the state and we’re also discouraging new entrepreneurs from growing their businesses here. And so that’s really the way to see it. The benefits would potentially be revenue, but we calculate that actually the state’s gonna lose $25 billion from doing this tax.\u003cbr>\u003cstrong>Olivia Allen-Price:\u003c/strong> Mmm so essentially the concern is this wealth tax could drive rich people out of the state, and so California would lose out on the yearly taxes they do pay.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> We do have a very progressive tax system here. The highest earners do pay the most into the state budget. And if that pool of folks shrinks, it could have an impact on overall spending every year, which of course goes not just to healthcare, but to. Police and fire and education and all these other areas. So I think part of what Newsom and a lot of the people on his side of things on the Democratic side who oppose this are worried about is that in the short term, this would help shore up the healthcare system, but in the long term, it would really undercut our overall ability to support all those programs that people depend on.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> We do have a very progressive tax system here. The highest earners do pay the most into the state budget. And if that pool of folks shrinks, it could have an impact on overall spending every year, which of course goes not just to healthcare, but to. Police and fire and education and all these other areas. So I think part of what Newsom and a lot of the people on his side of things on the Democratic side who oppose this are worried about is that in the short term, this would help shore up the healthcare system, but in the long term, it would really undercut our overall ability to support all those programs that people depend on.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Another issue Rauh takes with Prop 40 is with how it may force billionaires to make more of their money liquid.\u003cbr>\u003cbr>\u003cstrong>Joshua Rauh: \u003c/strong> If someone has a business that has a value of $1 billion, they’re going to be subject to this tax. They’re going to have to pay $50 million because of this tax, and they may not have that money liquid. That means that they’re gonna have to actually sell off some of this company and you know that that actually removes capital from growing companies. It’s bad for the companies and bad for economy. It’s bad to the labor force.\u003c/p>\n",
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"\n\u003cp>Another issue Rauh takes with Prop 40 is with how it may force billionaires to make more of their money liquid.\u003cbr>\u003cbr>\u003cstrong>Joshua Rauh: \u003c/strong> If someone has a business that has a value of $1 billion, they’re going to be subject to this tax. They’re going to have to pay $50 million because of this tax, and they may not have that money liquid. That means that they’re gonna have to actually sell off some of this company and you know that that actually removes capital from growing companies. It’s bad for the companies and bad for economy. It’s bad to the labor force.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Now I understand that this would be the first of its kind tax if this is passed in the United States, but similar stuff has been tried elsewhere.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Now I understand that this would be the first of its kind tax if this is passed in the United States, but similar stuff has been tried elsewhere.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There was an attempt a few decades ago to levy wealth taxes in some European countries. Most of those, I believe, were repealed. They were much broader. They were not just aimed at billionaires. Billionaires didn’t actually exist in the 90s, let’s not forget. So I think one of what you’ll hear from critics is that you should look at a place like France, which abolished its tax in 2018. After they did see sort of an exodus of a lot of businesses and business people who brought in, you know, a lot money. The flip side to that is that, you know, this is a one-time tax. It is in a state that is the center of these industries.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There was an attempt a few decades ago to levy wealth taxes in some European countries. Most of those, I believe, were repealed. They were much broader. They were not just aimed at billionaires. Billionaires didn’t actually exist in the 90s, let’s not forget. So I think one of what you’ll hear from critics is that you should look at a place like France, which abolished its tax in 2018. After they did see sort of an exodus of a lot of businesses and business people who brought in, you know, a lot money. The flip side to that is that, you know, this is a one-time tax. It is in a state that is the center of these industries.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Now we’re gonna get into props 41 and 42 in detail in some future episodes, but because they are related to prop 40, can you briefly explain how they conflict?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Now we’re gonna get into props 41 and 42 in detail in some future episodes, but because they are related to prop 40, can you briefly explain how they conflict?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, both Prop 41 and 42 have various other provisions, but they include language that says if they get more votes than Proposition 40, they supersede it. And in both cases, they would sort of undercut key provisions in Prop 40, and essentially make it impossible for the state to enforce the billionaire tax. So if all three pass, but 40 gets fewer votes, it essentially is like it didn’t pass in a lot of ways.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, both Prop 41 and 42 have various other provisions, but they include language that says if they get more votes than Proposition 40, they supersede it. And in both cases, they would sort of undercut key provisions in Prop 40, and essentially make it impossible for the state to enforce the billionaire tax. So if all three pass, but 40 gets fewer votes, it essentially is like it didn’t pass in a lot of ways.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And like we mentioned at the top of this episode, there have been a lot of ads about this measure, which means money. How is campaign spending shaking out on this?\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And like we mentioned at the top of this episode, there have been a lot of ads about this measure, which means money. How is campaign spending shaking out on this?\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So there has been money spent so far, and you might already feel like you’re seeing a lot of ads, but actually how much has been spent pales in comparison to what’s going to be spent. There are some estimates that this could be the most expensive ballot measure campaign in state history, so those ads you’re seeing are not going away anytime soon. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So there has been money spent so far, and you might already feel like you’re seeing a lot of ads, but actually how much has been spent pales in comparison to what’s going to be spent. There are some estimates that this could be the most expensive ballot measure campaign in state history, so those ads you’re seeing are not going away anytime soon. \u003c/p>\n"
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"innerHTML": "\n\u003cp>On the pro side, the healthcare unions, their allies, have spent, I think, over $30 million by the end of August. \u003c/p>\n",
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"\n\u003cp>On the pro side, the healthcare unions, their allies, have spent, I think, over $30 million by the end of August. \u003c/p>\n"
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"innerHTML": "\n\u003cp>On the other side, just the committee created by the billionaires to fight Prop 40 and push those other competing ballot measures, it’s called Building A Better California, they’ve raised $118 million so far. Most of that has not been spent, a little less than the other side has been spent so far, around $21 million. But they have reserved $87 million in TV and radio time leading up to the fall election. And so you can expect that money is all going to be put out there. Obviously these billionaires have a lot of money and that’s just the money that they’ve put in so far.\u003c/p>\n",
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"\n\u003cp>On the other side, just the committee created by the billionaires to fight Prop 40 and push those other competing ballot measures, it’s called Building A Better California, they’ve raised $118 million so far. Most of that has not been spent, a little less than the other side has been spent so far, around $21 million. But they have reserved $87 million in TV and radio time leading up to the fall election. And so you can expect that money is all going to be put out there. Obviously these billionaires have a lot of money and that’s just the money that they’ve put in so far.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I understand that this proposition is polling pretty close right now. So it could seem like a good investment if you can move a couple of voters this way or that.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I understand that this proposition is polling pretty close right now. So it could seem like a good investment if you can move a couple of voters this way or that.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>A hundred percent. I mean, what we’ve seen is that more Californians in these polls tend to favor this than oppose it. However, those numbers are pretty squishy. The kind of common wisdom is that if you’re going into a ballot measure campaign with a well-funded opposition, you want to start around 60% support. This is more in the mid to low fifties in terms of the support and some of the public polling we’ve seen. For both sides, people just get fatigued when they hear too much about any ballot measure and they start getting angry. And that sometimes can lead people to vote no, but if all they’re hearing is a no message, does that flip them the other way? I think there’s a saturation point that the campaigns may have to be concerned about on either side.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>A hundred percent. I mean, what we’ve seen is that more Californians in these polls tend to favor this than oppose it. However, those numbers are pretty squishy. The kind of common wisdom is that if you’re going into a ballot measure campaign with a well-funded opposition, you want to start around 60% support. This is more in the mid to low fifties in terms of the support and some of the public polling we’ve seen. For both sides, people just get fatigued when they hear too much about any ballot measure and they start getting angry. And that sometimes can lead people to vote no, but if all they’re hearing is a no message, does that flip them the other way? I think there’s a saturation point that the campaigns may have to be concerned about on either side.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Marisa Lagos is a political correspondent at KQED and co-host of the podcas, Political Breakdown. Thanks, Marisa.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Marisa Lagos is a political correspondent at KQED and co-host of the podcas, Political Breakdown. Thanks, Marisa.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>My pleasure.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>My pleasure.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>In a nutshell, a vote yes on Prop 40 means you want to levy a one-time tax of 5% on California’s 200 billionaires, with 90% of the revenue going to support health care in the state, and the other 10% going to fund public education and food assistance programs. A no vote means you do not want to levy a one time tax on billionaires. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>In a nutshell, a vote yes on Prop 40 means you want to levy a one-time tax of 5% on California’s 200 billionaires, with 90% of the revenue going to support health care in the state, and the other 10% going to fund public education and food assistance programs. A no vote means you do not want to levy a one time tax on billionaires. \u003c/p>\n"
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"innerHTML": "\n\u003cp>If you wanna hear more about Prop 40, the billionaire tax, check out Marisa’s podcast, Political Breakdown. She has in-depth interviews with Dave Reagan, who authored Prop 40 and Joshua Rauh, a Stanford economist who’s critical of it. You can find both in the Political Break Down podcast feed and we’ll link in our show notes. \u003c/p>\n",
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"\n\u003cp>If you wanna hear more about Prop 40, the billionaire tax, check out Marisa’s podcast, Political Breakdown. She has in-depth interviews with Dave Reagan, who authored Prop 40 and Joshua Rauh, a Stanford economist who’s critical of it. You can find both in the Political Break Down podcast feed and we’ll link in our show notes. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>That’s it for our latest episode of PropFest. How we doing? How we feeling? Feeling smarter? Feeling ready to vote? Well, there’s plenty more where that came from. From now until October 9th, the Bay and Bay Curious teams here at KQED are going to be dropping breakdowns of all the statewide propositions on the ballot this year to leave you feeling ready to vote this November. Stay locked in and make sure you’re subscribed to the Bay and be curious so you don’t miss out on the next ones.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>That’s it for our latest episode of PropFest. How we doing? How we feeling? Feeling smarter? Feeling ready to vote? Well, there’s plenty more where that came from. From now until October 9th, the Bay and Bay Curious teams here at KQED are going to be dropping breakdowns of all the statewide propositions on the ballot this year to leave you feeling ready to vote this November. Stay locked in and make sure you’re subscribed to the Bay and be curious so you don’t miss out on the next ones.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Prop Fest is a collaboration between The Bay and Bay Curious podcasts. It is produced by: Alan Montecillo, Ericka Cruz Guevarra, Gabriella Glueck, Pauline Bartolone, Katrina Schwartz, Christopher Beale, Anna Casalme, and me, Olivia Allen-Price\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Prop Fest is a collaboration between The Bay and Bay Curious podcasts. It is produced by: Alan Montecillo, Ericka Cruz Guevarra, Gabriella Glueck, Pauline Bartolone, Katrina Schwartz, Christopher Beale, Anna Casalme, and me, Olivia Allen-Price\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>We get extra support from, Katie Sprenger, Jen Chien, Maha Sanad, Ethan Toven-Lindsey and the whole KQED family.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>We get extra support from, Katie Sprenger, Jen Chien, Maha Sanad, Ethan Toven-Lindsey and the whole KQED family.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>You can find audio and transcripts for this series at kqed.org slash propfest.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>You can find audio and transcripts for this series at kqed.org slash propfest.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Our show is made in San Francisco at member-supported KQED. If you value podcasts like this one, please consider becoming a sustaining KQED member. Learn more at donate.kqed.org slash podcasts. \u003c/p>\n",
"innerContent": [
"\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Our show is made in San Francisco at member-supported KQED. If you value podcasts like this one, please consider becoming a sustaining KQED member. Learn more at donate.kqed.org slash podcasts. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Some members of the KQED podcast team are represented by The Screen Actors Guild, American Federation of Television and Radio Artists, San Francisco-Northern California Local.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Some members of the KQED podcast team are represented by The Screen Actors Guild, American Federation of Television and Radio Artists, San Francisco-Northern California Local.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Support for the Bay is provided in part by the Osher Production Fund.\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Support for the Bay is provided in part by the Osher Production Fund.\u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>I’m Olivia Allen-Price. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>I’m Olivia Allen-Price. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>And I’m Erika Cruz-Gabara. We’ll be back tomorrow with an explainer on Proposition 41, which takes aim at new special taxes, including the billionaire tax we just talked about. \u003c/p>\n",
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"\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>And I’m Erika Cruz-Gabara. We’ll be back tomorrow with an explainer on Proposition 41, which takes aim at new special taxes, including the billionaire tax we just talked about. \u003c/p>\n"
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"innerHTML": "\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ll see you then!\u003c/p>\n",
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"\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ll see you then!\u003c/p>\n"
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"content": "\u003cdiv class=\"post-body\">\u003cp>\n\u003ch2 class=\"wp-block-heading\">Transcript\u003c/h2>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>If you live in California right now, it’s pretty hard to avoid the ads about Proposition 40, otherwise known as the billionaire tax.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>No on 40 ad clip: \u003c/strong>You have questions about the wealth tax, Prop 40. So here are some facts. Newsom, Becerra, and Hilton are all voting no, calling it sketchy policy that will damage our economy.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Yes on 40 ad clip: \u003c/strong>We must work together to pass this tax and ensure that our health care services are protected. The billionaire class cannot have it all.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Proposition 40 is a one-time 5% tax on the billionaires currently living in California. It’s a hotly debated measure with folks like Bernie Sanders and Governor Gavin Newsom taking sides.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>It’s an interesting one because traditional allies are not lining up the way you might expect on this one.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>I’m Ericka Cruz Guevarra, host of The Bay.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I’m Olivia Allen-Price, host of Bay Curious. Welcome to PropFest. It’s a new week and we’ve got six propositions left to discuss. Our teams at The Bay and Bay Curious are bringing you breakdowns of the statewide propositions on the California ballot, so you can vote with confidence in the November election.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra:\u003c/strong> There are 14 propositions on the ballot this year, and we’ll be taking you through all of them. We’ll be looking at how they got on the ballot, the arguments for and against each one, really talk about how things could play out if they pass, and the money fueling it all.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Today we’re discussing Proposition 40, a one-time tax on the wealthiest Californians. It reads like this on your ballot.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Voice Over: \u003c/strong>Prop 40 imposes one-time tax on certain taxpayers.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Here to walk us through it is KQED political correspondent and co-host of the podcast, Political Breakdown, Marisa Lagos. Welcome, Marissa. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> Hey, glad to be here. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>There’s a lot to get into on Proposition 40, but before we start on the measure itself, can you give us some context for why this is on our ballot this year?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so this dates back to last year after President Trump took office, he and Republicans in Congress passed what’s known as H.R.1 or the Big Beautiful Bill. That included a reform of the tax code that enacted massive tax cuts for the wealthiest Americans. To pay for those tax cuts, they took billions and billions of dollars out of Medicaid and assistance programs. In California, those cuts will probably be around $30 billion a year that will not be going specifically to Medi-Cal, which is California’s Medicaid program. That’s the health insurance program for low-income Americans. This is basically aimed at replacing that money. Proponents of this tax estimate it would collect around $100 billion over a five-year period. That money would basically go to backfill the cuts from the H.R.1 or the Big Beautiful Bill.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>[00:03:03] And so where does Prop 40 come into all this?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>SEIU-UHW, which is a health care union that represents a lot of rank-and-file health care workers, they saw these cuts coming and decided that they wanted to try to backfill them. And so they came up with this idea to impose a one-time tax on the billionaires in California. It would apply to anyone who has a net worth of over a billion dollars and was living in the state as of January 1 of 2026. So this is a one time tax that would sort of be paid out over a couple of years and the union says it would help essentially avoid massive cuts to the healthcare system, at least for the next few years.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how many billionaires do we have in California? And give us a sense of who these people are.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There’s an estimated 200 or so people like Larry Page and Sergey Brin who founded Google, Mark Zuckerberg of Meta. Basically the people you hear about the most as being the wealthiest kind of Silicon Valley folks are the ones who are going to be subject to this tax if it passes.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they assessing wealth in this scenario? Because I understand this is like, it’s a little bit interesting how they’re planning to get at the wealth of these people because it’s not necessarily the way that sort of everyday people hold their cash.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos \u003c/strong>[00:04:16] Right, so maybe to back up, let’s just talk a little bit about how we pay taxes as sort of average working people, right? If you and I make a salary out of every paycheck, there’s an income tax that is taken by the state. If we have money in the stock market and we sell that stock and we make some capital gains, we would pay based on those capital gains that we realized. And then of course, there are things like property taxes, sales taxes, other things. \u003c/p>\n\n\n\n\u003cp>The critique of billionaires and really wealthy people is that they don’t make money through the same way that normal people do, right? I think there’s been reporting that Jeff Bezos’ Amazon salary, for example, is like $85,000. So he might actually qualify for some low-income programs based on that. But a lot of the ways that these folks have built their wealth is through stocks and other assets that are being played on Wall Street. And they don’t sort of realize the increase in those numbers unless they were to go and sell them. \u003c/p>\n\n\n\n\u003cp>So how do these billionaires pay for their yachts and their mansions? Well, if you’re that rich, you don’t need an income to essentially go to a bank and say, “hey, look, I’m worth a billion dollars, two billion dollars 100 billion dollars. So you should just give me some loans,” and they get basically loans in really low rates that the rest of us wouldn’t qualify for that help pay for life styles. \u003c/p>\n\n\n\n\u003cp>This tax would say when you file your taxes as a California resident, you have to check a box to declare whether you’re worth more than a billion dollars. And if you are worth more than a billion dollars, it essentially wants you to tell them how much that overall wealth is. So how much money do you have in your Google stocks if you’re a Sergey brand? How much money have you invested in other companies? You know, if you were Elon Musk, it would be Tesla and SpaceX. And then they want to impose a 5% tax on that overall wealth. So this is a really different kind of novel approach that is not how we have historically taxed people in the United States in general. \u003c/p>\n\n\n\n\u003cp>For Dave Reagan — who is the head of the union and the guy who basically wrote this proposition — this is like a really simple argument.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Just so everyone understands, the billionaires in California pay a tiny percentage of their financial holdings in income tax. They pay two and a half percent. \u003c/p>\n\n\n\n\u003cp> \u003cstrong>Marisa Lagos: \u003c/strong>When you look at sort of what we pay as average Californians and our income tax rates and others, and you compare that to the overall wealth of these folks and how little they pay, that this is just like a simple math problem that this proposition would help fix.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>Seven years ago in 2019, the aggregate wealth of California billionaires was $700 billion. Today it’s $2.3 trillion. It has more than tripled in the last seven years. Your wages aren’t tripling. My wages aren’t tripling. I don’t know anybody whose salary is tripling.”\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And how are they Proposing that the money from this one-time tax be used?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>It’s actually pretty vague in the measure. It says that 90% of it would go to healthcare, and then the legislature would have a lot of say over how that money is actually allocated, aimed at helping all those people who would be losing their healthcare or access to it because of the federal cuts. 10% is set aside for other programs, namely food assistance, which was also cut by HR1, as well as schools.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>But I understand, like, one critique is that because it is more vague or it’s left to legislators to spend, Californians to some degree, like don’t know exactly what they’re getting with this tax.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, I think that’s right. The health care system is incredibly expensive and complicated. And I think, you know, because of the way HR1 was written, there’s also a lot of uncertainty in how it’ll actually be carried out. And so I do think that some of that flexibility was built in to account for what we don’t know about how the HR1 cuts would actually play out.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And now, I know you’ve spoken to some of the people who are behind this measure, who wrote it. Why are they proposing this as a one-time tax and not something ongoing?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, this is a question I really had because it seems like if you’re trying to push back on what are permanent federal cuts, you would want something permanent yourself. And that also, if you are going to go to the trouble of picking this very big fight with the most wealthy people, really in the world, that like, is it worth it for one time? But when I sat down with Dave Reagan, he said that there’s a couple of reasons. One was that he wanted this to be a one-time thing. He didn’t want to give billionaires an incentive to leave California to avoid this. He understands that we are part of a 50 state system and that these are people who can move their wealth.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Dave Regan: \u003c/strong>We wanted to fix a crisis, solve a problem, and then have enough time to figure out what’s the permanent solution. We wanted, to the extent possible, to take the issue off the table, that the billionaires threatening everybody that they’re gonna leave, there is no incentive for them to leave under our proposal.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>The other thing that he and proponents say is that they don’t think these will be permanent cuts, that they want to get Democrats back in power in Congress and win the White House in 2028, and that they wanna see those cuts restored at the federal level, that that is the better way to be funding them. And so they felt that this should just be a one-time tax in order to kind of bridge that gap that they hope is a gap and not a permanent reduction.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ve got to take a quick break, but when we return, more on Proposition 40, including what those opposing it are saying. Stay with us. \u003c/p>\n\n\n\n\u003cp>\u003cem>Sponsor messages\u003c/em>\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And we’re back with Prop Fest, talking proposition 40. Marisa, other than the union that put this on the ballot, who else is supporting Prop 40 and why? \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So in addition to SEIU-UHW, you do have some of the biggest progressive national voices supporting this. Senator Bernie Sanders of Vermont. In the Bay Area, U.S. Representative Ro Khanna is behind it. The California Federation of Labor, which represents, you know, thousands of unions, did vote to endorse it. The California Democratic Party did vote to endorse Prop 40, but it is largely being driven by SEIU-UHW. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>All right, and then who is against it? And what are they arguing?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa:\u003c/strong> Everybody else in California. So at the top of the list are the billionaires. Sergey Brin has really taken the lead on this. He’s donated the most money and helped create some organizations that are really funneling money to oppose Prop 40 and push two other ballot measures that they put on the ballot in order to try to undercut Prop 40. But in addition to the billionaires themselves, you do have a really interesting list of folks up to Governor Gavin Newsom who says he opposes this tax. Most of the more high-profile Democrats in California, so in addition to Newsom, you have Xavier Becerra, the likely next governor. You have a lot of people in the legislature and others who are opposing it. And then you have some kind of surprising names. You have the California Teachers Association. You have Planned Parenthood of California. You have some other unions, firefighters and police officers and others that traditionally would probably be on the side of these taxes. \u003c/p>\n\n\n\n\u003cp>And then, of course, groups you would expect. The Howard Jarvis Taxpayers Association, the California Republican Party, conservative groups who generally just oppose raising taxes in any way.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>That’s such an eclectic group. What are their arguments against this measure?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, so we’ve really seen a lot of frustration by the governor on down at the fact that this was pushed through. And I think what they say is that it is a poorly designed one-time measure that potentially has the effect of hurting the progressive movement long-term. So their arguments include the idea that it’s gonna be hard to enforce, that this is like only a one-time thing for this ongoing problem, that it could actually essentially hurt California’s ability to stay competitive and to really, you know, be an innovator in the tech space, especially as we see this AI boom happening, that this will sort of scare people off. Newsom himself is trying to thread this needle where he says that he does support a national wealth tax. But that it’s just not the right way to do it at the state level. That this should be a national attack so that you wouldn’t have the ability to sort of avoid it by moving somewhere else.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>One concern that I keep reading about this, Prop 40, is how it could impact California in the future. Can you explain?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>One of the bigger arguments against it, too, is this idea that it could do longer-term damage to the state budget. If, indeed, you buy the argument that this will drive billionaires out of California or other wealthy people, even if it’s not to avoid this one-time tax, but that it’s just creating an environment that is less, you know, that is hostile to developing businesses, the concern is that if you have a lot of wealthy people flee the state, that would result in a huge hit to the state’s operating budget every single year. \u003c/p>\n\n\n\n\u003cp>I spoke to Joshua Rauh. He’s a Stanford University Finance Professor, a senior fellow at the Hoover Institute and he is very critical of Prop 40.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Joshua Rauh: \u003c/strong>The costs, in this case, with the billionaire tax are that we’re driving billionaires out of the state and we’re also discouraging new entrepreneurs from growing their businesses here. And so that’s really the way to see it. The benefits would potentially be revenue, but we calculate that actually the state’s gonna lose $25 billion from doing this tax.\u003cbr>\u003cstrong>Olivia Allen-Price:\u003c/strong> Mmm so essentially the concern is this wealth tax could drive rich people out of the state, and so California would lose out on the yearly taxes they do pay.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos:\u003c/strong> We do have a very progressive tax system here. The highest earners do pay the most into the state budget. And if that pool of folks shrinks, it could have an impact on overall spending every year, which of course goes not just to healthcare, but to. Police and fire and education and all these other areas. So I think part of what Newsom and a lot of the people on his side of things on the Democratic side who oppose this are worried about is that in the short term, this would help shore up the healthcare system, but in the long term, it would really undercut our overall ability to support all those programs that people depend on.\u003c/p>\n\n\n\n\u003cp>Another issue Rauh takes with Prop 40 is with how it may force billionaires to make more of their money liquid.\u003cbr>\u003cbr>\u003cstrong>Joshua Rauh: \u003c/strong> If someone has a business that has a value of $1 billion, they’re going to be subject to this tax. They’re going to have to pay $50 million because of this tax, and they may not have that money liquid. That means that they’re gonna have to actually sell off some of this company and you know that that actually removes capital from growing companies. It’s bad for the companies and bad for economy. It’s bad to the labor force.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Now I understand that this would be the first of its kind tax if this is passed in the United States, but similar stuff has been tried elsewhere.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>There was an attempt a few decades ago to levy wealth taxes in some European countries. Most of those, I believe, were repealed. They were much broader. They were not just aimed at billionaires. Billionaires didn’t actually exist in the 90s, let’s not forget. So I think one of what you’ll hear from critics is that you should look at a place like France, which abolished its tax in 2018. After they did see sort of an exodus of a lot of businesses and business people who brought in, you know, a lot money. The flip side to that is that, you know, this is a one-time tax. It is in a state that is the center of these industries.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Now we’re gonna get into props 41 and 42 in detail in some future episodes, but because they are related to prop 40, can you briefly explain how they conflict?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>Yeah, both Prop 41 and 42 have various other provisions, but they include language that says if they get more votes than Proposition 40, they supersede it. And in both cases, they would sort of undercut key provisions in Prop 40, and essentially make it impossible for the state to enforce the billionaire tax. So if all three pass, but 40 gets fewer votes, it essentially is like it didn’t pass in a lot of ways.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And like we mentioned at the top of this episode, there have been a lot of ads about this measure, which means money. How is campaign spending shaking out on this?\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>So there has been money spent so far, and you might already feel like you’re seeing a lot of ads, but actually how much has been spent pales in comparison to what’s going to be spent. There are some estimates that this could be the most expensive ballot measure campaign in state history, so those ads you’re seeing are not going away anytime soon. \u003c/p>\n\n\n\n\u003cp>On the pro side, the healthcare unions, their allies, have spent, I think, over $30 million by the end of August. \u003c/p>\n\n\n\n\u003cp>On the other side, just the committee created by the billionaires to fight Prop 40 and push those other competing ballot measures, it’s called Building A Better California, they’ve raised $118 million so far. Most of that has not been spent, a little less than the other side has been spent so far, around $21 million. But they have reserved $87 million in TV and radio time leading up to the fall election. And so you can expect that money is all going to be put out there. Obviously these billionaires have a lot of money and that’s just the money that they’ve put in so far.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>And I understand that this proposition is polling pretty close right now. So it could seem like a good investment if you can move a couple of voters this way or that.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>A hundred percent. I mean, what we’ve seen is that more Californians in these polls tend to favor this than oppose it. However, those numbers are pretty squishy. The kind of common wisdom is that if you’re going into a ballot measure campaign with a well-funded opposition, you want to start around 60% support. This is more in the mid to low fifties in terms of the support and some of the public polling we’ve seen. For both sides, people just get fatigued when they hear too much about any ballot measure and they start getting angry. And that sometimes can lead people to vote no, but if all they’re hearing is a no message, does that flip them the other way? I think there’s a saturation point that the campaigns may have to be concerned about on either side.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Marisa Lagos is a political correspondent at KQED and co-host of the podcas, Political Breakdown. Thanks, Marisa.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Marisa Lagos: \u003c/strong>My pleasure.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>In a nutshell, a vote yes on Prop 40 means you want to levy a one-time tax of 5% on California’s 200 billionaires, with 90% of the revenue going to support health care in the state, and the other 10% going to fund public education and food assistance programs. A no vote means you do not want to levy a one time tax on billionaires. \u003c/p>\n\n\n\n\u003cp>If you wanna hear more about Prop 40, the billionaire tax, check out Marisa’s podcast, Political Breakdown. She has in-depth interviews with Dave Reagan, who authored Prop 40 and Joshua Rauh, a Stanford economist who’s critical of it. You can find both in the Political Break Down podcast feed and we’ll link in our show notes. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>That’s it for our latest episode of PropFest. How we doing? How we feeling? Feeling smarter? Feeling ready to vote? Well, there’s plenty more where that came from. From now until October 9th, the Bay and Bay Curious teams here at KQED are going to be dropping breakdowns of all the statewide propositions on the ballot this year to leave you feeling ready to vote this November. Stay locked in and make sure you’re subscribed to the Bay and be curious so you don’t miss out on the next ones.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price:\u003c/strong> Prop Fest is a collaboration between The Bay and Bay Curious podcasts. It is produced by: Alan Montecillo, Ericka Cruz Guevarra, Gabriella Glueck, Pauline Bartolone, Katrina Schwartz, Christopher Beale, Anna Casalme, and me, Olivia Allen-Price\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>We get extra support from, Katie Sprenger, Jen Chien, Maha Sanad, Ethan Toven-Lindsey and the whole KQED family.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>You can find audio and transcripts for this series at kqed.org slash propfest.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Our show is made in San Francisco at member-supported KQED. If you value podcasts like this one, please consider becoming a sustaining KQED member. Learn more at donate.kqed.org slash podcasts. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>Some members of the KQED podcast team are represented by The Screen Actors Guild, American Federation of Television and Radio Artists, San Francisco-Northern California Local.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>Support for the Bay is provided in part by the Osher Production Fund.\u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>I’m Olivia Allen-Price. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Ericka Cruz Guevarra: \u003c/strong>And I’m Erika Cruz-Gabara. We’ll be back tomorrow with an explainer on Proposition 41, which takes aim at new special taxes, including the billionaire tax we just talked about. \u003c/p>\n\n\n\n\u003cp>\u003cstrong>Olivia Allen-Price: \u003c/strong>We’ll see you then!\u003c/p>\n\u003c/div>\u003c/p>",
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"title": "California Billionaire Tax Has a Slim Lead in New Poll, but Still ‘a Lot of Work to Do’",
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"content": "\n\u003cp>A slim majority of likely California voters are backing a proposed \u003ca href=\"https://www.kqed.org/news/tag/billionaire-tax\">tax on billionaires\u003c/a>, according to a new poll, but voters are also lining up behind two competing November ballot measures that could nullify the billionaire tax.\u003c/p>\n\n\n\n\u003cp>Voters will weigh in Nov. 3 on Proposition 40, which would impose a one-time, 5% wealth tax on billionaires who lived in California as of Jan. 1, 2026. The tax is estimated to raise up to $100 billion and would be used to \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">offset deep federal healthcare cuts\u003c/a> imposed last year by Congress. \u003c/p>\n\n\n\n\u003cp>According to the poll released late Tuesday by the Public Policy Institute of California, 52% of likely voters said they would vote yes on the tax, while 46% said they would vote no. \u003c/p>\n\n\n\n\u003cp>“Supporters of Proposition 40, the so-called billionaire tax initiative, have a lot of work to do,” said Mark Baldassare, the institute’s statewide survey director, noting the challenge of keeping support above 50% with what is only a “slim” lead. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles on Feb. 18, 2026. (Patrick T. Fallon/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>But \u003ca href=\"https://www.kqed.org/news/12097870/stanford-economist-makes-the-case-against-californias-billionaire-tax-measure\">opponents of the tax\u003c/a>, led by several billionaires, also are asking voters to weigh in on Propositions 41 and 42, which have provisions that could nullify the billionaire tax if they pass with more votes. \u003c/p>\n\n\n\n\u003cp>Proposition 41, which would make any new taxes subject to the state’s existing spending limit, is leading in the Public Policy Institute of California poll 51% to 44%.\u003c/p>\n\n\n\n\u003cp>Proposition 42 would prohibit taxes on financial assets such as stocks and other personal property other than real estate. It’s leading in the poll 54% to 43%.\u003c/p>\n\n\n\n\u003cp>If all three pass, but Proposition 41 or 42 gets more votes than Proposition 40 gets, the state will be prohibited from enforcing the billionaire tax. \u003c/p>\n\n\n\n\u003cp>“So the supporters [of Proposition 40] have the work to do of both keeping their support, which is now just above 50%, in the majority range, and also raising questions about Propositions 41 and 42 that may reduce support below what Proposition 40 is getting,” Baldassare said.\u003c/p>\n\n\n\n\u003cp>That task will likely be made even harder by the large amount of money being spent by billionaires against the proposed wealth tax: Opponents of the billionaire tax have already raised nearly $120 million to fight Proposition 40 and support Propositions 41 and 42. \u003c/p>\n\n\n\n\n\n\u003cp>The poll from the Public Policy Institute surveyed 1,103 likely voters from Sept. 4–10 and found an electorate that is pessimistic about the trajectory of both the state and the nation. Majorities of adults and likely voters told pollsters that price increases have caused financial hardship for their households, and just 27% of likely voters approve of President Donald Trump’s job performance. \u003c/p>\n\n\n\n\u003cp>The survey also found Democrat Xavier Becerra leading Republican Steve Hilton 60%-38% in the \u003ca href=\"https://www.kqed.org/news/tag/california-governors-race\">race for California governor\u003c/a>. \u003c/p>\n\n\n\n\u003cp>“Affordability continues to be top of mind for Californians,” Baldassare said, “when considering their choice for governor: 65% of likely voters say that a candidate’s plans to address cost-of-living issues are very important to their vote.”\u003c/p>\n\n\n\n\u003cp>The poll also asked voters about the other 11 ballot measures on the November ballot. \u003c/p>\n\n\n\n\u003cp>It found strong support for Proposition 3, which would make existing higher tax rates permanent for individuals earning more than $371,000 a year, and for Proposition 37, which would create a new loan program for middle-income home buyers in the state.\u003c/p>\n\n\n\n\u003cp>Proposition 45, which is aimed at speeding up construction by expediting some environmental reviews, is narrowly leading 48% to 46%. \u003c/p>\n\n\n\n\u003cp>Likely voters are also backing Proposition 1, which would authorize $11 billion in state bonds for affordable housing, and Proposition 2, which would increase the state’s rainy-day fund. \u003c/p>\n\n\n\n\u003cp>But a voter ID measure, authored by Republicans in the state Legislature, is trailing in the poll, with 43% of likely voters backing Proposition 39 and 55% opposed. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed.jpg\" alt=\"\" class=\"wp-image-12095745\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">A voter is given a sticker after dropping his ballot at City Hall in San Francisco on Oct. 30, 2025, ahead of the statewide special election. (Beth LaBerge/KQED)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>The survey also shows several other measures trailing among likely voters, including Proposition 4, which would repeal a prohibition against public funding of candidate campaigns; Proposition 5, which would change the process for replacing a state elected official who is recalled by voters; and Proposition 43, which would make it harder for voters to approve local tax increases. \u003c/p>\n\n\n\n\u003cp>In all, California voters will weigh in on \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">14 ballot measures \u003c/a>this fall, and the Public Policy Institute found voters “exhausted” by the responsibility: Nearly 80% of respondents said they are frustrated with the size of the ballot. \u003c/p>\n\n\n\n\u003cp>Baldassare said it’s the rare question that unites Democrats, Republicans and Independents. \u003c/p>\n\n\n\n\u003cp>“Every time we’ve asked this question of Californians, they tell us that, you know, there’s too many ballot measures that they have to deal with,” he said. “This is something that everybody agrees on.”\u003c/p>\n",
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"innerHTML": "\n\u003cp>Voters will weigh in Nov. 3 on Proposition 40, which would impose a one-time, 5% wealth tax on billionaires who lived in California as of Jan. 1, 2026. The tax is estimated to raise up to $100 billion and would be used to \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">offset deep federal healthcare cuts\u003c/a> imposed last year by Congress. \u003c/p>\n",
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"\n\u003cp>Voters will weigh in Nov. 3 on Proposition 40, which would impose a one-time, 5% wealth tax on billionaires who lived in California as of Jan. 1, 2026. The tax is estimated to raise up to $100 billion and would be used to \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">offset deep federal healthcare cuts\u003c/a> imposed last year by Congress. \u003c/p>\n"
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"innerHTML": "\n\u003cp>According to the poll released late Tuesday by the Public Policy Institute of California, 52% of likely voters said they would vote yes on the tax, while 46% said they would vote no. \u003c/p>\n",
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"innerHTML": "\n\u003cp>“Supporters of Proposition 40, the so-called billionaire tax initiative, have a lot of work to do,” said Mark Baldassare, the institute’s statewide survey director, noting the challenge of keeping support above 50% with what is only a “slim” lead. \u003c/p>\n",
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"\n\u003cp>“Supporters of Proposition 40, the so-called billionaire tax initiative, have a lot of work to do,” said Mark Baldassare, the institute’s statewide survey director, noting the challenge of keeping support above 50% with what is only a “slim” lead. \u003c/p>\n"
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"innerHTML": "\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"(min-width: 992px) min(100vw, 1536px), (min-width: 768px) min(100vw, 1280px), min(100vw, 1020px)\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles on Feb. 18, 2026.\u003ccite class=\"wp-inline-image-credit\"> (Patrick T. Fallon/AFP via Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n",
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"\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles on Feb. 18, 2026.\u003ccite class=\"wp-inline-image-credit\"> (Patrick T. Fallon/AFP via Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n"
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"innerHTML": "\n\u003cp>But \u003ca href=\"https://www.kqed.org/news/12097870/stanford-economist-makes-the-case-against-californias-billionaire-tax-measure\">opponents of the tax\u003c/a>, led by several billionaires, also are asking voters to weigh in on Propositions 41 and 42, which have provisions that could nullify the billionaire tax if they pass with more votes. \u003c/p>\n",
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"\n\u003cp>But \u003ca href=\"https://www.kqed.org/news/12097870/stanford-economist-makes-the-case-against-californias-billionaire-tax-measure\">opponents of the tax\u003c/a>, led by several billionaires, also are asking voters to weigh in on Propositions 41 and 42, which have provisions that could nullify the billionaire tax if they pass with more votes. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Proposition 41, which would make any new taxes subject to the state’s existing spending limit, is leading in the Public Policy Institute of California poll 51% to 44%.\u003c/p>\n",
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"\n\u003cp>Proposition 41, which would make any new taxes subject to the state’s existing spending limit, is leading in the Public Policy Institute of California poll 51% to 44%.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Proposition 42 would prohibit taxes on financial assets such as stocks and other personal property other than real estate. It’s leading in the poll 54% to 43%.\u003c/p>\n",
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"\n\u003cp>Proposition 42 would prohibit taxes on financial assets such as stocks and other personal property other than real estate. It’s leading in the poll 54% to 43%.\u003c/p>\n"
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"innerHTML": "\n\u003cp>If all three pass, but Proposition 41 or 42 gets more votes than Proposition 40 gets, the state will be prohibited from enforcing the billionaire tax. \u003c/p>\n",
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"innerHTML": "\n\u003cp>“So the supporters [of Proposition 40] have the work to do of both keeping their support, which is now just above 50%, in the majority range, and also raising questions about Propositions 41 and 42 that may reduce support below what Proposition 40 is getting,” Baldassare said.\u003c/p>\n",
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"innerHTML": "\n\u003cp>That task will likely be made even harder by the large amount of money being spent by billionaires against the proposed wealth tax: Opponents of the billionaire tax have already raised nearly $120 million to fight Proposition 40 and support Propositions 41 and 42. \u003c/p>\n",
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"innerHTML": "\n\u003cp>The poll from the Public Policy Institute surveyed 1,103 likely voters from Sept. 4–10 and found an electorate that is pessimistic about the trajectory of both the state and the nation. Majorities of adults and likely voters told pollsters that price increases have caused financial hardship for their households, and just 27% of likely voters approve of President Donald Trump’s job performance. \u003c/p>\n",
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"\n\u003cp>The poll from the Public Policy Institute surveyed 1,103 likely voters from Sept. 4–10 and found an electorate that is pessimistic about the trajectory of both the state and the nation. Majorities of adults and likely voters told pollsters that price increases have caused financial hardship for their households, and just 27% of likely voters approve of President Donald Trump’s job performance. \u003c/p>\n"
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"innerHTML": "\n\u003cp>The survey also found Democrat Xavier Becerra leading Republican Steve Hilton 60%-38% in the \u003ca href=\"https://www.kqed.org/news/tag/california-governors-race\">race for California governor\u003c/a>. \u003c/p>\n",
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"\n\u003cp>The survey also found Democrat Xavier Becerra leading Republican Steve Hilton 60%-38% in the \u003ca href=\"https://www.kqed.org/news/tag/california-governors-race\">race for California governor\u003c/a>. \u003c/p>\n"
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"innerHTML": "\n\u003cp>“Affordability continues to be top of mind for Californians,” Baldassare said, “when considering their choice for governor: 65% of likely voters say that a candidate’s plans to address cost-of-living issues are very important to their vote.”\u003c/p>\n",
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"\n\u003cp>“Affordability continues to be top of mind for Californians,” Baldassare said, “when considering their choice for governor: 65% of likely voters say that a candidate’s plans to address cost-of-living issues are very important to their vote.”\u003c/p>\n"
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"innerHTML": "\n\u003cp>The poll also asked voters about the other 11 ballot measures on the November ballot. \u003c/p>\n",
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"\n\u003cp>The poll also asked voters about the other 11 ballot measures on the November ballot. \u003c/p>\n"
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"innerHTML": "\n\u003cp>It found strong support for Proposition 3, which would make existing higher tax rates permanent for individuals earning more than $371,000 a year, and for Proposition 37, which would create a new loan program for middle-income home buyers in the state.\u003c/p>\n",
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"\n\u003cp>It found strong support for Proposition 3, which would make existing higher tax rates permanent for individuals earning more than $371,000 a year, and for Proposition 37, which would create a new loan program for middle-income home buyers in the state.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Proposition 45, which is aimed at speeding up construction by expediting some environmental reviews, is narrowly leading 48% to 46%. \u003c/p>\n",
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"\n\u003cp>Proposition 45, which is aimed at speeding up construction by expediting some environmental reviews, is narrowly leading 48% to 46%. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Likely voters are also backing Proposition 1, which would authorize $11 billion in state bonds for affordable housing, and Proposition 2, which would increase the state’s rainy-day fund. \u003c/p>\n",
"innerContent": [
"\n\u003cp>Likely voters are also backing Proposition 1, which would authorize $11 billion in state bonds for affordable housing, and Proposition 2, which would increase the state’s rainy-day fund. \u003c/p>\n"
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"innerHTML": "\n\u003cp>But a voter ID measure, authored by Republicans in the state Legislature, is trailing in the poll, with 43% of likely voters backing Proposition 39 and 55% opposed. \u003c/p>\n",
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"\n\u003cp>But a voter ID measure, authored by Republicans in the state Legislature, is trailing in the poll, with 43% of likely voters backing Proposition 39 and 55% opposed. \u003c/p>\n"
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"innerHTML": "\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed.jpg\" alt=\"\" class=\"wp-image-12095745\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed-1536x1024.jpg 1536w\" sizes=\"(min-width: 992px) min(100vw, 1536px), (min-width: 768px) min(100vw, 1280px), min(100vw, 1020px)\" />\u003cfigcaption class=\"wp-element-caption\">A voter is given a sticker after dropping his ballot at City Hall in San Francisco on Oct. 30, 2025, ahead of the statewide special election.\u003ccite class=\"wp-inline-image-credit\"> (Beth LaBerge/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n",
"innerContent": [
"\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed.jpg\" alt=\"\" class=\"wp-image-12095745\" />\u003cfigcaption class=\"wp-element-caption\">A voter is given a sticker after dropping his ballot at City Hall in San Francisco on Oct. 30, 2025, ahead of the statewide special election.\u003ccite class=\"wp-inline-image-credit\"> (Beth LaBerge/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n"
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"innerHTML": "\n\u003cp>The survey also shows several other measures trailing among likely voters, including Proposition 4, which would repeal a prohibition against public funding of candidate campaigns; Proposition 5, which would change the process for replacing a state elected official who is recalled by voters; and Proposition 43, which would make it harder for voters to approve local tax increases. \u003c/p>\n",
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"\n\u003cp>The survey also shows several other measures trailing among likely voters, including Proposition 4, which would repeal a prohibition against public funding of candidate campaigns; Proposition 5, which would change the process for replacing a state elected official who is recalled by voters; and Proposition 43, which would make it harder for voters to approve local tax increases. \u003c/p>\n"
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"innerHTML": "\n\u003cp>In all, California voters will weigh in on \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">14 ballot measures \u003c/a>this fall, and the Public Policy Institute found voters “exhausted” by the responsibility: Nearly 80% of respondents said they are frustrated with the size of the ballot. \u003c/p>\n",
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"\n\u003cp>In all, California voters will weigh in on \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">14 ballot measures \u003c/a>this fall, and the Public Policy Institute found voters “exhausted” by the responsibility: Nearly 80% of respondents said they are frustrated with the size of the ballot. \u003c/p>\n"
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"excerpt": "While 52% of likely voters said they would vote yes on Proposition 40, they are also lining up behind two competing November ballot measures that could nullify the wealth tax.",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\n\u003cp>A slim majority of likely California voters are backing a proposed \u003ca href=\"https://www.kqed.org/news/tag/billionaire-tax\">tax on billionaires\u003c/a>, according to a new poll, but voters are also lining up behind two competing November ballot measures that could nullify the billionaire tax.\u003c/p>\n\n\n\n\u003cp>Voters will weigh in Nov. 3 on Proposition 40, which would impose a one-time, 5% wealth tax on billionaires who lived in California as of Jan. 1, 2026. The tax is estimated to raise up to $100 billion and would be used to \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">offset deep federal healthcare cuts\u003c/a> imposed last year by Congress. \u003c/p>\n\n\n\n\u003cp>According to the poll released late Tuesday by the Public Policy Institute of California, 52% of likely voters said they would vote yes on the tax, while 46% said they would vote no. \u003c/p>\n\n\n\n\u003cp>“Supporters of Proposition 40, the so-called billionaire tax initiative, have a lot of work to do,” said Mark Baldassare, the institute’s statewide survey director, noting the challenge of keeping support above 50% with what is only a “slim” lead. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles on Feb. 18, 2026. (Patrick T. Fallon/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>But \u003ca href=\"https://www.kqed.org/news/12097870/stanford-economist-makes-the-case-against-californias-billionaire-tax-measure\">opponents of the tax\u003c/a>, led by several billionaires, also are asking voters to weigh in on Propositions 41 and 42, which have provisions that could nullify the billionaire tax if they pass with more votes. \u003c/p>\n\n\n\n\u003cp>Proposition 41, which would make any new taxes subject to the state’s existing spending limit, is leading in the Public Policy Institute of California poll 51% to 44%.\u003c/p>\n\n\n\n\u003cp>Proposition 42 would prohibit taxes on financial assets such as stocks and other personal property other than real estate. It’s leading in the poll 54% to 43%.\u003c/p>\n\n\n\n\u003cp>If all three pass, but Proposition 41 or 42 gets more votes than Proposition 40 gets, the state will be prohibited from enforcing the billionaire tax. \u003c/p>\n\n\n\n\u003cp>“So the supporters [of Proposition 40] have the work to do of both keeping their support, which is now just above 50%, in the majority range, and also raising questions about Propositions 41 and 42 that may reduce support below what Proposition 40 is getting,” Baldassare said.\u003c/p>\n\n\n\n\u003cp>That task will likely be made even harder by the large amount of money being spent by billionaires against the proposed wealth tax: Opponents of the billionaire tax have already raised nearly $120 million to fight Proposition 40 and support Propositions 41 and 42. \u003c/p>\n\n\n\n\n\n\u003cp>The poll from the Public Policy Institute surveyed 1,103 likely voters from Sept. 4–10 and found an electorate that is pessimistic about the trajectory of both the state and the nation. Majorities of adults and likely voters told pollsters that price increases have caused financial hardship for their households, and just 27% of likely voters approve of President Donald Trump’s job performance. \u003c/p>\n\n\n\n\u003cp>The survey also found Democrat Xavier Becerra leading Republican Steve Hilton 60%-38% in the \u003ca href=\"https://www.kqed.org/news/tag/california-governors-race\">race for California governor\u003c/a>. \u003c/p>\n\n\n\n\u003cp>“Affordability continues to be top of mind for Californians,” Baldassare said, “when considering their choice for governor: 65% of likely voters say that a candidate’s plans to address cost-of-living issues are very important to their vote.”\u003c/p>\n\n\n\n\u003cp>The poll also asked voters about the other 11 ballot measures on the November ballot. \u003c/p>\n\n\n\n\u003cp>It found strong support for Proposition 3, which would make existing higher tax rates permanent for individuals earning more than $371,000 a year, and for Proposition 37, which would create a new loan program for middle-income home buyers in the state.\u003c/p>\n\n\n\n\u003cp>Proposition 45, which is aimed at speeding up construction by expediting some environmental reviews, is narrowly leading 48% to 46%. \u003c/p>\n\n\n\n\u003cp>Likely voters are also backing Proposition 1, which would authorize $11 billion in state bonds for affordable housing, and Proposition 2, which would increase the state’s rainy-day fund. \u003c/p>\n\n\n\n\u003cp>But a voter ID measure, authored by Republicans in the state Legislature, is trailing in the poll, with 43% of likely voters backing Proposition 39 and 55% opposed. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed.jpg\" alt=\"\" class=\"wp-image-12095745\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/251030-BayAreaVoters-06-BL_qed-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">A voter is given a sticker after dropping his ballot at City Hall in San Francisco on Oct. 30, 2025, ahead of the statewide special election. (Beth LaBerge/KQED)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>The survey also shows several other measures trailing among likely voters, including Proposition 4, which would repeal a prohibition against public funding of candidate campaigns; Proposition 5, which would change the process for replacing a state elected official who is recalled by voters; and Proposition 43, which would make it harder for voters to approve local tax increases. \u003c/p>\n\n\n\n\u003cp>In all, California voters will weigh in on \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">14 ballot measures \u003c/a>this fall, and the Public Policy Institute found voters “exhausted” by the responsibility: Nearly 80% of respondents said they are frustrated with the size of the ballot. \u003c/p>\n\n\n\n\u003cp>Baldassare said it’s the rare question that unites Democrats, Republicans and Independents. \u003c/p>\n\n\n\n\u003cp>“Every time we’ve asked this question of Californians, they tell us that, you know, there’s too many ballot measures that they have to deal with,” he said. “This is something that everybody agrees on.”\u003c/p>\n\u003c/div>\u003c/p>",
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"content": "\n\u003cp>Stanford University Professor Joshua Rauh argues that the proposed billionaire tax on California’s November ballot would face legal challenges, raise far less than proponents claim and push wealthy residents out of the state. Rauh, a senior fellow at the Hoover Institution, recently authored a \u003ca href=\"https://www.hoover.org/research/net-present-value-billionaire-tax-act-assessment-fiscal-effects-californias-proposed\">study examining the potential effects\u003c/a> of the tax if voters approve it this fall. Marisa sits down with Rauh to discuss the case against Proposition 40, which would impose a one-time, five percent tax on the overall wealth of California’s billionaires. \u003c/p>\n\n\n\n\u003cp>Check out \u003ca href=\"https://www.kqed.org/newsletters/political-breakdown\">Political Breakdown’s weekly newsletter\u003c/a>, delivered straight to your inbox.\u003c/p>\n",
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"title": "California Labor Leader on AI Bills and Billionaire Tax Measure Splitting Unions | KQED",
"description": "Lorena Gonzalez heads up the powerful California Federation of Labor Unions, making her one of the most prominent voices for working people in the state. The group represents more than 1,300 unions and 2.3 million workers in sectors including manufacturing, retail, construction, hospitality, healthcare and entertainment. One of the federation’s priorities in Sacramento this year is Artificial Intelligence policy. In the final days of the legislative session, Marisa sits down with Gonzalez to talk about the AI and data center bills that have failed, the ones still on the table and working with unions across the country on these regulations. ",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\n\u003cp>Lorena Gonzalez heads up the powerful California Federation of Labor Unions, making her one of the most prominent voices for working people in the state. The group represents more than 1,300 unions and 2.3 million workers in sectors including manufacturing, retail, construction, hospitality, healthcare and entertainment. \u003c/p>\n\n\n\n\u003cp>One of the federation’s priorities in Sacramento this year is Artificial Intelligence policy. In the final days of the legislative session, Marisa sits down with Gonzalez to talk about the AI and data center bills that have failed, the ones still on the table and working with unions across the country on these regulations. \u003c/p>\n\n\n\n\u003cp>They also discuss the backroom negotiations behind a proposed ballot measure tax on California billionaires that has split the labor community. Despite the federation’s endorsement of the measure, Gonzalez said she’d prefer it not be on the ballot.\u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\u003cdiv class=\"wp-block-embed__wrapper\">\u003c/p>\u003cp>\u003cspan class='utils-parseShortcode-shortcodes-__youtubeShortcode__embedYoutube'>\n \u003cspan class='utils-parseShortcode-shortcodes-__youtubeShortcode__embedYoutubeInside'>\n \u003ciframe\n loading='lazy'\n class='utils-parseShortcode-shortcodes-__youtubeShortcode__youtubePlayer'\n type='text/html'\n src='//www.youtube.com/embed/WLbvdWXuR3Y'\n title='//www.youtube.com/embed/WLbvdWXuR3Y'\n allowfullscreen='true'\n style='border:0;'>\u003c/iframe>\n \u003c/span>\n \u003c/span>\u003c/p>\u003cp>\u003c/div>\u003c/figure>\n\n\n\n\u003cp>Check out \u003ca href=\"https://www.kqed.org/newsletters/political-breakdown\">Political Breakdown’s weekly newsletter\u003c/a>, delivered straight to your inbox.\u003c/p>\n\n\n\n\u003cp>\u003c/p>\n\u003c/div>\u003c/p>",
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"title": "Splitting With State Party, San Francisco Democrats Oppose Billionaire Tax",
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"content": "\n\u003cp>The San Francisco Democratic Party has voted to oppose a proposed statewide \u003ca href=\"https://www.kqed.org/news/tag/billionaire-tax\">billionaire tax\u003c/a>, marking a rare divergence from the California Democratic Party, which endorsed the November ballot measure. \u003c/p>\n\n\n\n\u003cp>Proposition 40 has emerged as a lightning rod among Democrats, with the state party narrowly voting to endorse it while prominent moderate Democrats, including Gov. Gavin Newsom, have come out against it. \u003c/p>\n\n\n\n\u003cp>Wednesday’s vote came shortly after the majority-moderate San Francisco Democratic Party changed its bylaws earlier this summer to allow the local party to go against the state Democratic Party’s endorsements. \u003c/p>\n\n\n\n\u003cp>Supporters have said Proposition 40 would provide a much-needed injection of cash to California’s healthcare system at a time when federal cuts to Medicare have impacted residents across the state and city of San Francisco. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1334\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg\" alt=\"\" class=\"wp-image-12088085\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-160x107.jpeg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-1536x1025.jpeg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">Signs reading “A Billionaire Tax Now” rest on chairs at a Billionaire Tax Now rally where Sen. Bernie Sanders is set to speak in Los Angeles on Feb. 18, 2026. (Jason Armond/Los Angeles Times via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>But opponents say it’s a misguided effort to tax the wealthy and could result in billionaires fleeing to other states.\u003c/p>\n\n\n\n\u003cp>“Passing a billionaire tax in California is not a long-term viable solution to providing affordable healthcare,” member Lanier Coles said. “We need \u003cem>federal\u003c/em> tax reform to address the growing inequities and concentration of wealth.” \u003c/p>\n\n\n\n\u003cp>One member in the audience fired back: “That’s why you lost to Trump twice.”\u003c/p>\n\n\n\n\u003cp>The 17-4 vote fell along moderate-progressive lines. The measure would create a one-time 5% tax on Californians with a net worth that exceeds $1 billion who lived in the state as of Jan. 1, 2026. The tax could generate about $100 billion and would be paid by roughly 200 billionaires, according to the campaign. \u003c/p>\n\n\n\n\n\n\u003cp>The measure has garnered \u003ca href=\"https://www.kqed.org/news/12095116/california-billionaire-tax-has-strong-support-of-democratic-voters-new-poll-shows\">strong support\u003c/a> from likely Democratic voters in California, according to a recent UC Berkeley poll. \u003c/p>\n\n\n\n\u003cp>But the state’s Democratic leaders are divided on the measure. In addition to the local and state Democratic Party split, Newsom and former Health and Human Services Secretary Xavier Becerra, the Democratic frontrunner for governor, have both opposed Proposition 40. \u003c/p>\n\n\n\n\u003cp>Opponents of the measure say the one-time tax would not produce the long-term funding needed to backfill healthcare cuts from President Donald Trump’s One Big Beautiful Bill Act. \u003c/p>\n\n\n\n\u003cp>Groups opposing Proposition 40 include Planned Parenthood Affiliates of California and the California Teachers Association.\u003c/p>\n\n\n\n\u003cp>California healthcare unions back the state billionaire tax and have received the support of Vermont Sen. Bernie Sanders and Democratic Congressman Ro Khanna, who represents parts of Silicon Valley.\u003c/p>\n\n\n\n\u003cp>“Working families who are barely holding on here in San Francisco and across the state are paying their taxes,” San Francisco Democratic Party member Peter Gallotta said. “Billionaires making ungodly sums of money with more than they can spend in their lifetimes can afford to contribute more.”\u003c/p>\n\n\n\n\u003cp>Progressive members slammed their moderate colleagues for playing defense for billionaires, including powerful tech donors who have helped elect members of the local Democratic Party.\u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1440\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut.jpg\" alt=\"An Asian man in a blue suit holding a microphone and speaking with protesters behind him in support of gig workers.\" class=\"wp-image-11932792\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut.jpg 1920w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-800x600.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-1020x765.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-160x120.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-1536x1152.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" />\u003cfigcaption class=\"wp-element-caption\">Former San Francisco Supervisor Gordon Mar, representing District 4, at a rally supporting the creation of a statewide union of Uber, Lyft, DoorDash and other gig workers on Oct. 12, 2022. (Farida Jhabvala Romero/KQED)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>A no vote on Proposition 40 “would reinforce the public perception that our local Democratic Party is more responsive to the billionaire interest who spent heavily to elect the current majority than healthcare workers and working families,” former Supervisor Gordon Mar said. “The federal healthcare cuts facing California are not minor … Prop. 40 is the only proposal before voters and on the table more generally that approaches the scale of this crisis.”\u003c/p>\n\n\n\n\u003cp>San Francisco Democratic Party members Emma Hare and Eric Kingsbury put forward a resolution calling for a national wealth tax, which Newsom has also proposed. \u003c/p>\n\n\n\n\u003cp>“American government increasingly answers to an oligarchy of a few hundred households rather than to the more than three hundred million Americans it exists to serve,” reads the resolution, co-sponsored by Supervisor Matt Dorsey and party member Joe Sangirardi. \u003c/p>\n\n\n\n\u003cp>“If wealthy people know how to do anything really well, it’s to get through loopholes, and I think this measure has a lot of loopholes,” Hare said. “I think we can do better.”\u003c/p>\n",
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"innerHTML": "\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg\" alt=\"\" class=\"wp-image-12088085\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-160x107.jpeg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-1536x1025.jpeg 1536w\" sizes=\"(min-width: 992px) min(100vw, 1536px), (min-width: 768px) min(100vw, 1280px), min(100vw, 1020px)\" />\u003cfigcaption class=\"wp-element-caption\">Signs reading “A Billionaire Tax Now” rest on chairs at a Billionaire Tax Now rally where Sen. Bernie Sanders is set to speak in Los Angeles on Feb. 18, 2026. \u003ccite class=\"wp-inline-image-credit\"> (Jason Armond/Los Angeles Times via Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n",
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"innerHTML": "\n\u003cp>But opponents say it’s a misguided effort to tax the wealthy and could result in billionaires fleeing to other states.\u003c/p>\n",
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"innerHTML": "\n\u003cp>“Passing a billionaire tax in California is not a long-term viable solution to providing affordable healthcare,” member Lanier Coles said. “We need \u003cem>federal\u003c/em> tax reform to address the growing inequities and concentration of wealth.” \u003c/p>\n",
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"\n\u003cp>“Passing a billionaire tax in California is not a long-term viable solution to providing affordable healthcare,” member Lanier Coles said. “We need \u003cem>federal\u003c/em> tax reform to address the growing inequities and concentration of wealth.” \u003c/p>\n"
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"innerHTML": "\n\u003cp>One member in the audience fired back: “That’s why you lost to Trump twice.”\u003c/p>\n",
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"innerHTML": "\n\u003cp>The 17-4 vote fell along moderate-progressive lines. The measure would create a one-time 5% tax on Californians with a net worth that exceeds $1 billion who lived in the state as of Jan. 1, 2026. The tax could generate about $100 billion and would be paid by roughly 200 billionaires, according to the campaign. \u003c/p>\n",
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"innerHTML": "\n\u003cp>The measure has garnered \u003ca href=\"https://www.kqed.org/news/12095116/california-billionaire-tax-has-strong-support-of-democratic-voters-new-poll-shows\">strong support\u003c/a> from likely Democratic voters in California, according to a recent UC Berkeley poll. \u003c/p>\n",
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"innerHTML": "\n\u003cp>But the state’s Democratic leaders are divided on the measure. In addition to the local and state Democratic Party split, Newsom and former Health and Human Services Secretary Xavier Becerra, the Democratic frontrunner for governor, have both opposed Proposition 40. \u003c/p>\n",
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"\n\u003cp>But the state’s Democratic leaders are divided on the measure. In addition to the local and state Democratic Party split, Newsom and former Health and Human Services Secretary Xavier Becerra, the Democratic frontrunner for governor, have both opposed Proposition 40. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Opponents of the measure say the one-time tax would not produce the long-term funding needed to backfill healthcare cuts from President Donald Trump’s One Big Beautiful Bill Act. \u003c/p>\n",
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"innerHTML": "\n\u003cp>Groups opposing Proposition 40 include Planned Parenthood Affiliates of California and the California Teachers Association.\u003c/p>\n",
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"innerHTML": "\n\u003cp>California healthcare unions back the state billionaire tax and have received the support of Vermont Sen. Bernie Sanders and Democratic Congressman Ro Khanna, who represents parts of Silicon Valley.\u003c/p>\n",
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"innerHTML": "\n\u003cp>“Working families who are barely holding on here in San Francisco and across the state are paying their taxes,” San Francisco Democratic Party member Peter Gallotta said. “Billionaires making ungodly sums of money with more than they can spend in their lifetimes can afford to contribute more.”\u003c/p>\n",
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"\n\u003cp>“Working families who are barely holding on here in San Francisco and across the state are paying their taxes,” San Francisco Democratic Party member Peter Gallotta said. “Billionaires making ungodly sums of money with more than they can spend in their lifetimes can afford to contribute more.”\u003c/p>\n"
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"innerHTML": "\n\u003cp>Progressive members slammed their moderate colleagues for playing defense for billionaires, including powerful tech donors who have helped elect members of the local Democratic Party.\u003c/p>\n",
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"innerHTML": "\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut.jpg\" alt=\"An Asian man in a blue suit holding a microphone and speaking with protesters behind him in support of gig workers.\" class=\"wp-image-11932792\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut.jpg 1920w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-800x600.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-1020x765.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-160x120.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-1536x1152.jpg 1536w\" sizes=\"(min-width: 992px) min(100vw, 1536px), (min-width: 768px) min(100vw, 1280px), min(100vw, 1020px)\" />\u003cfigcaption class=\"wp-element-caption\">Former San Francisco Supervisor Gordon Mar, representing District 4, at a rally supporting the creation of a statewide union of Uber, Lyft, DoorDash and other gig workers on Oct. 12, 2022.\u003ccite class=\"wp-inline-image-credit\"> (Farida Jhabvala Romero/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n",
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"\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut.jpg\" alt=\"An Asian man in a blue suit holding a microphone and speaking with protesters behind him in support of gig workers.\" class=\"wp-image-11932792\" />\u003cfigcaption class=\"wp-element-caption\">Former San Francisco Supervisor Gordon Mar, representing District 4, at a rally supporting the creation of a statewide union of Uber, Lyft, DoorDash and other gig workers on Oct. 12, 2022.\u003ccite class=\"wp-inline-image-credit\"> (Farida Jhabvala Romero/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n"
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"innerHTML": "\n\u003cp>A no vote on Proposition 40 “would reinforce the public perception that our local Democratic Party is more responsive to the billionaire interest who spent heavily to elect the current majority than healthcare workers and working families,” former Supervisor Gordon Mar said. “The federal healthcare cuts facing California are not minor … Prop. 40 is the only proposal before voters and on the table more generally that approaches the scale of this crisis.”\u003c/p>\n",
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"\n\u003cp>A no vote on Proposition 40 “would reinforce the public perception that our local Democratic Party is more responsive to the billionaire interest who spent heavily to elect the current majority than healthcare workers and working families,” former Supervisor Gordon Mar said. “The federal healthcare cuts facing California are not minor … Prop. 40 is the only proposal before voters and on the table more generally that approaches the scale of this crisis.”\u003c/p>\n"
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"innerHTML": "\n\u003cp>San Francisco Democratic Party members Emma Hare and Eric Kingsbury put forward a resolution calling for a national wealth tax, which Newsom has also proposed. \u003c/p>\n",
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"innerHTML": "\n\u003cp>“American government increasingly answers to an oligarchy of a few hundred households rather than to the more than three hundred million Americans it exists to serve,” reads the resolution, co-sponsored by Supervisor Matt Dorsey and party member Joe Sangirardi. \u003c/p>\n",
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"\n\u003cp>“American government increasingly answers to an oligarchy of a few hundred households rather than to the more than three hundred million Americans it exists to serve,” reads the resolution, co-sponsored by Supervisor Matt Dorsey and party member Joe Sangirardi. \u003c/p>\n"
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"innerHTML": "\n\u003cp>“If wealthy people know how to do anything really well, it’s to get through loopholes, and I think this measure has a lot of loopholes,” Hare said. “I think we can do better.”\u003c/p>\n",
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"\n\u003cp>“If wealthy people know how to do anything really well, it’s to get through loopholes, and I think this measure has a lot of loopholes,” Hare said. “I think we can do better.”\u003c/p>\n"
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"excerpt": "The state’s Democratic leaders are also divided on Proposition 40, with Gov. Gavin Newsom and gubernatorial candidate Xavier Becerra opposing the measure.",
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"title": "Splitting With State Party, San Francisco Democrats Oppose Billionaire Tax | KQED",
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"headline": "Splitting With State Party, San Francisco Democrats Oppose Billionaire Tax",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\n\u003cp>The San Francisco Democratic Party has voted to oppose a proposed statewide \u003ca href=\"https://www.kqed.org/news/tag/billionaire-tax\">billionaire tax\u003c/a>, marking a rare divergence from the California Democratic Party, which endorsed the November ballot measure. \u003c/p>\n\n\n\n\u003cp>Proposition 40 has emerged as a lightning rod among Democrats, with the state party narrowly voting to endorse it while prominent moderate Democrats, including Gov. Gavin Newsom, have come out against it. \u003c/p>\n\n\n\n\u003cp>Wednesday’s vote came shortly after the majority-moderate San Francisco Democratic Party changed its bylaws earlier this summer to allow the local party to go against the state Democratic Party’s endorsements. \u003c/p>\n\n\n\n\u003cp>Supporters have said Proposition 40 would provide a much-needed injection of cash to California’s healthcare system at a time when federal cuts to Medicare have impacted residents across the state and city of San Francisco. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1334\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg\" alt=\"\" class=\"wp-image-12088085\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01.jpeg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-160x107.jpeg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/021826-Billionaires-Tax-GETTY-CM-01-1536x1025.jpeg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" />\u003cfigcaption class=\"wp-element-caption\">Signs reading “A Billionaire Tax Now” rest on chairs at a Billionaire Tax Now rally where Sen. Bernie Sanders is set to speak in Los Angeles on Feb. 18, 2026. (Jason Armond/Los Angeles Times via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>But opponents say it’s a misguided effort to tax the wealthy and could result in billionaires fleeing to other states.\u003c/p>\n\n\n\n\u003cp>“Passing a billionaire tax in California is not a long-term viable solution to providing affordable healthcare,” member Lanier Coles said. “We need \u003cem>federal\u003c/em> tax reform to address the growing inequities and concentration of wealth.” \u003c/p>\n\n\n\n\u003cp>One member in the audience fired back: “That’s why you lost to Trump twice.”\u003c/p>\n\n\n\n\u003cp>The 17-4 vote fell along moderate-progressive lines. The measure would create a one-time 5% tax on Californians with a net worth that exceeds $1 billion who lived in the state as of Jan. 1, 2026. The tax could generate about $100 billion and would be paid by roughly 200 billionaires, according to the campaign. \u003c/p>\n\n\n\n\n\n\u003cp>The measure has garnered \u003ca href=\"https://www.kqed.org/news/12095116/california-billionaire-tax-has-strong-support-of-democratic-voters-new-poll-shows\">strong support\u003c/a> from likely Democratic voters in California, according to a recent UC Berkeley poll. \u003c/p>\n\n\n\n\u003cp>But the state’s Democratic leaders are divided on the measure. In addition to the local and state Democratic Party split, Newsom and former Health and Human Services Secretary Xavier Becerra, the Democratic frontrunner for governor, have both opposed Proposition 40. \u003c/p>\n\n\n\n\u003cp>Opponents of the measure say the one-time tax would not produce the long-term funding needed to backfill healthcare cuts from President Donald Trump’s One Big Beautiful Bill Act. \u003c/p>\n\n\n\n\u003cp>Groups opposing Proposition 40 include Planned Parenthood Affiliates of California and the California Teachers Association.\u003c/p>\n\n\n\n\u003cp>California healthcare unions back the state billionaire tax and have received the support of Vermont Sen. Bernie Sanders and Democratic Congressman Ro Khanna, who represents parts of Silicon Valley.\u003c/p>\n\n\n\n\u003cp>“Working families who are barely holding on here in San Francisco and across the state are paying their taxes,” San Francisco Democratic Party member Peter Gallotta said. “Billionaires making ungodly sums of money with more than they can spend in their lifetimes can afford to contribute more.”\u003c/p>\n\n\n\n\u003cp>Progressive members slammed their moderate colleagues for playing defense for billionaires, including powerful tech donors who have helped elect members of the local Democratic Party.\u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1440\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut.jpg\" alt=\"An Asian man in a blue suit holding a microphone and speaking with protesters behind him in support of gig workers.\" class=\"wp-image-11932792\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut.jpg 1920w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-800x600.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-1020x765.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-160x120.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/RS59360_IMG_5938-qut-1536x1152.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" />\u003cfigcaption class=\"wp-element-caption\">Former San Francisco Supervisor Gordon Mar, representing District 4, at a rally supporting the creation of a statewide union of Uber, Lyft, DoorDash and other gig workers on Oct. 12, 2022. (Farida Jhabvala Romero/KQED)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>A no vote on Proposition 40 “would reinforce the public perception that our local Democratic Party is more responsive to the billionaire interest who spent heavily to elect the current majority than healthcare workers and working families,” former Supervisor Gordon Mar said. “The federal healthcare cuts facing California are not minor … Prop. 40 is the only proposal before voters and on the table more generally that approaches the scale of this crisis.”\u003c/p>\n\n\n\n\u003cp>San Francisco Democratic Party members Emma Hare and Eric Kingsbury put forward a resolution calling for a national wealth tax, which Newsom has also proposed. \u003c/p>\n\n\n\n\u003cp>“American government increasingly answers to an oligarchy of a few hundred households rather than to the more than three hundred million Americans it exists to serve,” reads the resolution, co-sponsored by Supervisor Matt Dorsey and party member Joe Sangirardi. \u003c/p>\n\n\n\n\u003cp>“If wealthy people know how to do anything really well, it’s to get through loopholes, and I think this measure has a lot of loopholes,” Hare said. “I think we can do better.”\u003c/p>\n\u003c/div>\u003c/p>",
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"slug": "california-billionaire-tax-has-strong-support-of-democratic-voters-new-poll-shows",
"title": "California Billionaire Tax Has Strong Support of Democratic Voters, New Poll Shows",
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"headTitle": "California Billionaire Tax Has Strong Support of Democratic Voters, New Poll Shows | KQED",
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"content": "\u003cp>California Democrats are strongly backing a proposal to levy a one-time \u003ca href=\"https://www.kqed.org/news/tag/billionaire-tax\">tax on billionaires\u003c/a> and opposing a measure that would require voters to present ID at the ballot box, according to a new UC Berkeley poll. \u003c/p>\n\n\n\n\u003cp>Among the overall likely November electorate, the tax measure labeled Proposition 40 holds a narrow lead, 48% to 41%, the survey from the Institute of Governmental Studies found. Opinions about the proposed 5% tax on billionaires’ overall wealth — which would be used to backfill cuts to federal healthcare funding — were highly partisan: 70% of Democrats say they’ll back it, with 80% of Republicans opposed. \u003c/p>\n\n\n\n\u003cp>Voters with no party preference were more evenly split, with 50% saying they’ll vote yes and 39% saying they’ll vote no. Overall, 11% of likely voters told IGS pollsters they are still undecided. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles, on Feb. 18, 2026. Sanders is seeking the support of California voters for a November ballot initiative of an emergency tax on billionaires to help the state’s healthcare system. (Patrick T. Fallon/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>Though the poll suggests strong support for the billionaire tax among Democratic voters, the measure has split the party’s political establishment. It narrowly won the \u003ca href=\"https://www.kqed.org/news/12093726/california-democratic-party-endorses-billionaire-tax-splitting-with-newsom\">endorsement of the California Democratic Party\u003c/a> and is backed by the healthcare workers union SEIU-UHW West, but it is opposed by Gov. Gavin Newsom and some labor unions, in addition to a group of billionaires. \u003c/p>\n\n\n\n\u003cp>IGS co-director Eric Schickler said the survey indicates that Proposition 40’s backers will need to rely on more liberal voters to succeed in passing the tax.\u003c/p>\n\n\n\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>“These results suggest that the billionaires tax initiative is shaping up to be a closely fought contest, with the key question being whether opponents can make big enough inroads among the state’s traditionally Democratic-leaning voters,” Schickler said in a statement.\u003c/p>\n\n\n\n\n\n\u003cp>Schickler said voter opinions on Proposition 39, a \u003ca href=\"https://www.kqed.org/news/12081404/voter-id-initiative-qualifies-for-californias-november-election\">voter ID measure\u003c/a> put on the ballot by state Republicans, are even more partisan and ideological, with 80% of Democrats opposed and 93% of Republicans in favor. \u003c/p>\n\n\n\n\u003cp>The measure is trailing in the poll, with 51% of likely voters saying they will vote against it and 42% in support. \u003c/p>\n\n\n\n\u003cp>Proposition 39 would require voters to show a government-issued ID if they vote in person, or write the last four digits of an ID on a mail-in ballot. \u003c/p>\n\n\n\n\u003cp>Schickler said opponents of that initiative “have already started to solidify making it a more typical Democratic-Republican fight, in which Democrats in California generally hold the advantage.”\u003c/p>\n\n\n\n\u003cp>Given Democrats’ strong registration advantage in California, it may be difficult for Republicans to close that gap: Just 7% of likely voters told IGS they don’t yet know how they will vote on the voter ID measure. \u003c/p>\n\n\n\n\u003cp>The poll also asked likely voters about two \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">other ballot measures\u003c/a>, authored by a group of billionaires who oppose the wealth tax, that are aimed at nullifying the billionaire tax if it passes. \u003c/p>\n\n\n\n\u003cp>Proposition 41 would prohibit new taxes enacted after Jan. 1 of this year — when Proposition 40 would retroactively take effect; Proposition 42 would prohibit both wealth taxes like Proposition 40 and any retroactive taxes.\u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1322\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg\" alt=\"\" class=\"wp-image-12081506\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-160x106.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-1536x1015.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-element-caption\">Healthcare workers and other supporters with the Billionaire Tax Now coalition hold placards during a media briefing in Los Angeles on April 27, 2026. Healthcare workers and allies outlined the next steps in their effort to get California’s Billionaire Tax on the ballot for the November election, with their efforts already exceeding 1,500,000 signatures collected from across the state. The initiative would levy a one-time 5% tax on California billionaires. (Frederic J. Brown/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>Both measures were written so they would supersede Proposition 40 if they receive more votes than the billionaire wealth tax. \u003c/p>\n\n\n\n\u003cp>IGS found likely voters had no clear consensus around the measures, and that many had never heard of them. That’s in contrast to the proposed billionaire tax, which more than 70% of likely voters are aware of despite the fact that the campaigns for and against it have not yet kicked off in earnest. \u003c/p>\n\n\n\n\u003cp>\u003c/p>\n\u003cp>The survey was conducted online in English and Spanish from Aug. 3 to Aug. 9 among 4,207 registered voters; a sample of 2,310 were considered likely voters in the November general election.\u003c/p>\n\n",
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"innerHTML": "\n\u003cp>Among the overall likely November electorate, the tax measure labeled Proposition 40 holds a narrow lead, 48% to 41%, the survey from the Institute of Governmental Studies found. Opinions about the proposed 5% tax on billionaires’ overall wealth — which would be used to backfill cuts to federal healthcare funding — were highly partisan: 70% of Democrats say they’ll back it, with 80% of Republicans opposed. \u003c/p>\n",
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"innerHTML": "\n\u003cp>Voters with no party preference were more evenly split, with 50% saying they’ll vote yes and 39% saying they’ll vote no. Overall, 11% of likely voters told IGS pollsters they are still undecided. \u003c/p>\n",
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"\n\u003cp>Voters with no party preference were more evenly split, with 50% saying they’ll vote yes and 39% saying they’ll vote no. Overall, 11% of likely voters told IGS pollsters they are still undecided. \u003c/p>\n"
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"innerHTML": "\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"(min-width: 992px) min(100vw, 1536px), (min-width: 768px) min(100vw, 1280px), min(100vw, 1020px)\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles, on Feb. 18, 2026. Sanders is seeking the support of California voters for a November ballot initiative of an emergency tax on billionaires to help the state’s healthcare system.\u003c/figcaption>\u003c/figure>\n",
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"\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" />\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles, on Feb. 18, 2026. Sanders is seeking the support of California voters for a November ballot initiative of an emergency tax on billionaires to help the state’s healthcare system.\u003c/figcaption>\u003c/figure>\n"
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"innerHTML": "\n\u003cp>Though the poll suggests strong support for the billionaire tax among Democratic voters, the measure has split the party’s political establishment. It narrowly won the \u003ca href=\"https://www.kqed.org/news/12093726/california-democratic-party-endorses-billionaire-tax-splitting-with-newsom\">endorsement of the California Democratic Party\u003c/a> and is backed by the healthcare workers union SEIU-UHW West, but it is opposed by Gov. Gavin Newsom and some labor unions, in addition to a group of billionaires. \u003c/p>\n",
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"\n\u003cp>Though the poll suggests strong support for the billionaire tax among Democratic voters, the measure has split the party’s political establishment. It narrowly won the \u003ca href=\"https://www.kqed.org/news/12093726/california-democratic-party-endorses-billionaire-tax-splitting-with-newsom\">endorsement of the California Democratic Party\u003c/a> and is backed by the healthcare workers union SEIU-UHW West, but it is opposed by Gov. Gavin Newsom and some labor unions, in addition to a group of billionaires. \u003c/p>\n"
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"innerHTML": "\n\u003cp>IGS co-director Eric Schickler said the survey indicates that Proposition 40’s backers will need to rely on more liberal voters to succeed in passing the tax.\u003c/p>\n",
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"innerHTML": "\n\u003cp>“These results suggest that the billionaires tax initiative is shaping up to be a closely fought contest, with the key question being whether opponents can make big enough inroads among the state’s traditionally Democratic-leaning voters,” Schickler said in a statement.\u003c/p>\n",
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"innerHTML": "\n\u003cp>Schickler said voter opinions on Proposition 39, a \u003ca href=\"https://www.kqed.org/news/12081404/voter-id-initiative-qualifies-for-californias-november-election\">voter ID measure\u003c/a> put on the ballot by state Republicans, are even more partisan and ideological, with 80% of Democrats opposed and 93% of Republicans in favor. \u003c/p>\n",
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"\n\u003cp>Schickler said voter opinions on Proposition 39, a \u003ca href=\"https://www.kqed.org/news/12081404/voter-id-initiative-qualifies-for-californias-november-election\">voter ID measure\u003c/a> put on the ballot by state Republicans, are even more partisan and ideological, with 80% of Democrats opposed and 93% of Republicans in favor. \u003c/p>\n"
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"innerHTML": "\n\u003cp>The measure is trailing in the poll, with 51% of likely voters saying they will vote against it and 42% in support. \u003c/p>\n",
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"\n\u003cp>The measure is trailing in the poll, with 51% of likely voters saying they will vote against it and 42% in support. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Proposition 39 would require voters to show a government-issued ID if they vote in person, or write the last four digits of an ID on a mail-in ballot. \u003c/p>\n",
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"innerHTML": "\n\u003cp>Schickler said opponents of that initiative “have already started to solidify making it a more typical Democratic-Republican fight, in which Democrats in California generally hold the advantage.”\u003c/p>\n",
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"\n\u003cp>Schickler said opponents of that initiative “have already started to solidify making it a more typical Democratic-Republican fight, in which Democrats in California generally hold the advantage.”\u003c/p>\n"
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"innerHTML": "\n\u003cp>Given Democrats’ strong registration advantage in California, it may be difficult for Republicans to close that gap: Just 7% of likely voters told IGS they don’t yet know how they will vote on the voter ID measure. \u003c/p>\n",
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"\n\u003cp>Given Democrats’ strong registration advantage in California, it may be difficult for Republicans to close that gap: Just 7% of likely voters told IGS they don’t yet know how they will vote on the voter ID measure. \u003c/p>\n"
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"innerHTML": "\n\u003cp>The poll also asked likely voters about two \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">other ballot measures\u003c/a>, authored by a group of billionaires who oppose the wealth tax, that are aimed at nullifying the billionaire tax if it passes. \u003c/p>\n",
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"\n\u003cp>The poll also asked likely voters about two \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">other ballot measures\u003c/a>, authored by a group of billionaires who oppose the wealth tax, that are aimed at nullifying the billionaire tax if it passes. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Proposition 41 would prohibit new taxes enacted after Jan. 1 of this year — when Proposition 40 would retroactively take effect; Proposition 42 would prohibit both wealth taxes like Proposition 40 and any retroactive taxes.\u003c/p>\n",
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"\n\u003cp>Proposition 41 would prohibit new taxes enacted after Jan. 1 of this year — when Proposition 40 would retroactively take effect; Proposition 42 would prohibit both wealth taxes like Proposition 40 and any retroactive taxes.\u003c/p>\n"
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"srcset": "https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-160x106.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-1536x1015.jpg 1536w",
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"innerHTML": "\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg\" alt=\"\" class=\"wp-image-12081506\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-160x106.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-1536x1015.jpg 1536w\" sizes=\"(min-width: 992px) min(100vw, 1536px), (min-width: 768px) min(100vw, 1280px), min(100vw, 1020px)\" />\u003cfigcaption class=\"wp-element-caption\">Healthcare workers and other supporters with the Billionaire Tax Now coalition hold placards during a media briefing in Los Angeles on April 27, 2026. Healthcare workers and allies outlined the next steps in their effort to get California’s Billionaire Tax on the ballot for the November election, with their efforts already exceeding 1,500,000 signatures collected from across the state. The initiative would levy a one-time 5% tax on California billionaires.\u003c/figcaption>\u003c/figure>\n",
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"\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg\" alt=\"\" class=\"wp-image-12081506\" />\u003cfigcaption class=\"wp-element-caption\">Healthcare workers and other supporters with the Billionaire Tax Now coalition hold placards during a media briefing in Los Angeles on April 27, 2026. Healthcare workers and allies outlined the next steps in their effort to get California’s Billionaire Tax on the ballot for the November election, with their efforts already exceeding 1,500,000 signatures collected from across the state. The initiative would levy a one-time 5% tax on California billionaires.\u003c/figcaption>\u003c/figure>\n"
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"innerHTML": "\n\u003cp>Both measures were written so they would supersede Proposition 40 if they receive more votes than the billionaire wealth tax. \u003c/p>\n",
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"innerHTML": "\n\u003cp>IGS found likely voters had no clear consensus around the measures, and that many had never heard of them. That’s in contrast to the proposed billionaire tax, which more than 70% of likely voters are aware of despite the fact that the campaigns for and against it have not yet kicked off in earnest. \u003c/p>\n",
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"\n\u003cp>IGS found likely voters had no clear consensus around the measures, and that many had never heard of them. That’s in contrast to the proposed billionaire tax, which more than 70% of likely voters are aware of despite the fact that the campaigns for and against it have not yet kicked off in earnest. \u003c/p>\n"
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"innerHTML": "\n\u003cp>The survey was conducted online in English and Spanish from Aug. 3 to Aug. 9 among 4,207 registered voters; a sample of 2,310 were considered likely voters in the November general election.\u003c/p>\n",
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"excerpt": "Proposition 40, which would levy a one-time tax on billionaires, holds a narrow lead among likely voters overall. The poll also shows Proposition 39, a voter ID proposal, trailing.",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>California Democrats are strongly backing a proposal to levy a one-time \u003ca href=\"https://www.kqed.org/news/tag/billionaire-tax\">tax on billionaires\u003c/a> and opposing a measure that would require voters to present ID at the ballot box, according to a new UC Berkeley poll. \u003c/p>\n\n\n\n\u003cp>Among the overall likely November electorate, the tax measure labeled Proposition 40 holds a narrow lead, 48% to 41%, the survey from the Institute of Governmental Studies found. Opinions about the proposed 5% tax on billionaires’ overall wealth — which would be used to backfill cuts to federal healthcare funding — were highly partisan: 70% of Democrats say they’ll back it, with 80% of Republicans opposed. \u003c/p>\n\n\n\n\u003cp>Voters with no party preference were more evenly split, with 50% saying they’ll vote yes and 39% saying they’ll vote no. Overall, 11% of likely voters told IGS pollsters they are still undecided. \u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg\" alt=\"\" class=\"wp-image-12093728\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/08/CaliforniaBillionairesTaxGetty-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-element-caption\">A T-shirt with a campaign message is seen before the start of a rally led by U.S. Sen. Bernie Sanders, an Independent from Vermont, during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles, on Feb. 18, 2026. Sanders is seeking the support of California voters for a November ballot initiative of an emergency tax on billionaires to help the state’s healthcare system. (Patrick T. Fallon/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>Though the poll suggests strong support for the billionaire tax among Democratic voters, the measure has split the party’s political establishment. It narrowly won the \u003ca href=\"https://www.kqed.org/news/12093726/california-democratic-party-endorses-billionaire-tax-splitting-with-newsom\">endorsement of the California Democratic Party\u003c/a> and is backed by the healthcare workers union SEIU-UHW West, but it is opposed by Gov. Gavin Newsom and some labor unions, in addition to a group of billionaires. \u003c/p>\n\n\n\n\u003cp>IGS co-director Eric Schickler said the survey indicates that Proposition 40’s backers will need to rely on more liberal voters to succeed in passing the tax.\u003c/p>\n\n\n\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>“These results suggest that the billionaires tax initiative is shaping up to be a closely fought contest, with the key question being whether opponents can make big enough inroads among the state’s traditionally Democratic-leaning voters,” Schickler said in a statement.\u003c/p>\n\n\n\n\n\n\u003cp>Schickler said voter opinions on Proposition 39, a \u003ca href=\"https://www.kqed.org/news/12081404/voter-id-initiative-qualifies-for-californias-november-election\">voter ID measure\u003c/a> put on the ballot by state Republicans, are even more partisan and ideological, with 80% of Democrats opposed and 93% of Republicans in favor. \u003c/p>\n\n\n\n\u003cp>The measure is trailing in the poll, with 51% of likely voters saying they will vote against it and 42% in support. \u003c/p>\n\n\n\n\u003cp>Proposition 39 would require voters to show a government-issued ID if they vote in person, or write the last four digits of an ID on a mail-in ballot. \u003c/p>\n\n\n\n\u003cp>Schickler said opponents of that initiative “have already started to solidify making it a more typical Democratic-Republican fight, in which Democrats in California generally hold the advantage.”\u003c/p>\n\n\n\n\u003cp>Given Democrats’ strong registration advantage in California, it may be difficult for Republicans to close that gap: Just 7% of likely voters told IGS they don’t yet know how they will vote on the voter ID measure. \u003c/p>\n\n\n\n\u003cp>The poll also asked likely voters about two \u003ca href=\"https://www.kqed.org/news/12088883/california-billionaire-tax-november-ballot-measures\">other ballot measures\u003c/a>, authored by a group of billionaires who oppose the wealth tax, that are aimed at nullifying the billionaire tax if it passes. \u003c/p>\n\n\n\n\u003cp>Proposition 41 would prohibit new taxes enacted after Jan. 1 of this year — when Proposition 40 would retroactively take effect; Proposition 42 would prohibit both wealth taxes like Proposition 40 and any retroactive taxes.\u003c/p>\n\n\n\n\u003cfigure class=\"wp-block-image size-full\">\u003cimg loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1322\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg\" alt=\"\" class=\"wp-image-12081506\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-160x106.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2026/04/BillionaireTaxGetty-1536x1015.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-element-caption\">Healthcare workers and other supporters with the Billionaire Tax Now coalition hold placards during a media briefing in Los Angeles on April 27, 2026. Healthcare workers and allies outlined the next steps in their effort to get California’s Billionaire Tax on the ballot for the November election, with their efforts already exceeding 1,500,000 signatures collected from across the state. The initiative would levy a one-time 5% tax on California billionaires. (Frederic J. Brown/AFP via Getty Images)\u003c/figcaption>\u003c/figure>\n\n\n\n\u003cp>Both measures were written so they would supersede Proposition 40 if they receive more votes than the billionaire wealth tax. \u003c/p>\n\n\n\n\u003cp>IGS found likely voters had no clear consensus around the measures, and that many had never heard of them. That’s in contrast to the proposed billionaire tax, which more than 70% of likely voters are aware of despite the fact that the campaigns for and against it have not yet kicked off in earnest. \u003c/p>\n\n\n\n\u003cp>\u003c/p>\n\u003cp>The survey was conducted online in English and Spanish from Aug. 3 to Aug. 9 among 4,207 registered voters; a sample of 2,310 were considered likely voters in the November general election.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"slug": "what-abdul-el-sayeds-michigan-primary-win-means-for-california-democrats",
"title": "What Abdul El-Sayed’s Michigan Primary Win Means for California Democrats",
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"content": "\u003cp>The California billionaire tax measure picked up \u003ca href=\"https://www.kqed.org/news/12093726/california-democratic-party-endorses-billionaire-tax-splitting-with-newsom\">major endorsements\u003c/a> this week from the state Democratic Party and the California Labor Federation. The proposal to issue a one-time, 5% tax on the assets of the state’s billionaires has split Democrats, echoing deeper divides in the party ahead of a consequential midterm election. Guy Marzorati and the San Francisco Chronicle’s senior political writer Joe Garofoli discuss Prop. 40’s growing momentum and what Gov. Gavin \u003ca href=\"https://www.sfchronicle.com/politics/joegarofoli/article/newsom-billionaire-tax-california-22372253.php\">Newsom’s continuing opposition\u003c/a> could mean for his presidential ambitions. \u003c/p>\n\n\n\n\u003cp>Then, they assess why \u003ca href=\"https://www.sfchronicle.com/politics/article/gavin-newsom-michigan-democrats-22376220.php\">Newsom is heading to Michigan\u003c/a> this weekend, fresh off progressive Democrat Abdul El-Sayed’s Senate primary victory. The race tested progressive candidates’ strength in a swing state and could shape midterm strategy here in California. \u003c/p>\n\n\n\n\u003cp>Check out \u003ca href=\"https://www.kqed.org/newsletters/political-breakdown\">Political Breakdown’s weekly newsletter\u003c/a>, delivered straight to your inbox.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\u003cp>\u003c/p>\n",
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"innerHTML": "\n\u003cp>Then, they assess why \u003ca href=\"https://www.sfchronicle.com/politics/article/gavin-newsom-michigan-democrats-22376220.php\">Newsom is heading to Michigan\u003c/a> this weekend, fresh off progressive Democrat Abdul El-Sayed’s Senate primary victory. The race tested progressive candidates’ strength in a swing state and could shape midterm strategy here in California. \u003c/p>\n",
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"content": "\u003cp>\u003cstrong>Here are the morning’s top stories on Monday, August 3, 2026\u003c/strong>\u003c/p>\n\n\n\n\u003cul class=\"wp-block-list\">\n\u003cli>California lawmakers are returning to Sacramento from summer recess on Monday — and a fight is already brewing over \u003ca href=\"https://www.kqed.org/news/12093409/inside-the-fight-for-the-future-of-californias-climate-dollars\">the future of the state’s climate fund.\u003c/a> Governor Gavin Newsom’s administration has changed environmental rules to prevent higher gas prices. And that could lead to less money for affordable housing, transit and other projects to reduce carbon emissions. \u003c/li>\n\n\n\n\u003cli>The executive board of the California Democratic Party threw its support behind Proposition 40, the so-called billionaire’s tax on the November ballot. If approved, the measure would impose a 5%, one-time tax on billionaires’ assets to pay for healthcare. \u003c/li>\n\n\n\n\u003cli>The CARE court mental health program has seen \u003ca href=\"https://laist.com/la-county-says-a-program-meant-to-help-people-with-serious-mental-illness-is-gaining-traction\">an increase in participation\u003c/a>, according to officials in Los Angeles County.\u003c/li>\n\u003c/ul>\n\n\n\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>\u003ca href=\"https://www.kqed.org/news/12093409/inside-the-fight-for-the-future-of-californias-climate-dollars\">Inside the fight for the future of California’s climate dollars\u003c/a>\u003c/strong>\u003c/h2>\n\n\n\n\u003cp>As state lawmakers return to the Capitol from summer recess on Monday, Democrats are spoiling for a fight with Gov. \u003ca href=\"https://www.kqed.org/news/tag/gavin-newsom\">Gavin Newsom\u003c/a> over the future of California’s signature climate fund. \u003c/p>\n\n\n\n\u003cp>Less than a year ago, Newsom and the Legislature \u003ca href=\"https://www.kqed.org/science/1998536/newsom-signs-climate-energy-bills-charting-state-course-through-perilous-mid-transition\">extended\u003c/a> the cap-and-trade program to 2045, renaming it cap-and-invest — a clear signal about lawmakers’ thoughts on the fiscal benefits of \u003ca href=\"https://www.kqed.org/news/12052825/whats-next-for-californias-landmark-climate-program\">the system\u003c/a>. By requiring major polluters to purchase permits to account for their emissions, it raises billions of dollars a year for programs ranging from high-speed rail to affordable housing. \u003c/p>\n\n\n\n\u003cp>But the climate fund could shrink by as much as half due to new rules governing cap-and-invest, forcing lawmakers to make tough choices about how to spend the polluter proceeds — all while Newsom argues the program was never meant to be a permanent source of revenue. Their negotiations could come to a head in the next few weeks, before the final legislative session of the governor’s tenure comes to a close. \u003c/p>\n\n\n\n\u003cp>The cap-and-invest rules, \u003ca href=\"https://www.kqed.org/news/12085401/amid-opposition-california-regulators-approve-major-changes-to-cap-and-trade-program\">approved\u003c/a> by the California Air Resources Board this spring, are expected to drastically reduce the number of pollution permits, known as allowances, that are auctioned off to fill the Greenhouse Gas Reduction Fund over the next three years. Instead, more pollution allowances will be given away to companies covered by the cap, such as oil refineries and factories, to prevent them from leaving California. “There is tension here insofar as there was an effort to rebrand the program as cap-and-invest — and now there are some serious concerns about the magnitude of the investments that will be coming out of this program,” said Kyle Meng, a professor of environmental economics at UC Santa Barbara. \u003c/p>\n\n\n\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>Newsom signed the reauthorization of cap-and-invest in September, as part of \u003ca href=\"https://www.kqed.org/news/12055461/california-lawmakers-reach-last-minute-deals-on-climate-energy\">sweeping negotiations\u003c/a> on climate and energy that included a bill meant to boost the state’s oil industry by making it easier to drill in Kern County. Air regulators at CARB got to work designing a cap that would allow the state to achieve its climate goals — including reaching net-zero greenhouse gas emissions by 2045 — while also \u003ca href=\"https://www.kqed.org/news/12053867/affordability-concerns-at-center-of-cap-and-trade-renewal-debate\">addressing affordability\u003c/a>, a top priority for lawmakers during last year’s reauthorization debate. \u003c/p>\n\n\n\n\u003cp>The first set of cap-and-invest rules unveiled in January drew fierce lobbying from the oil industry, which had already seen the \u003ca href=\"https://www.kqed.org/forum/2010101910826/california-considers-more-drilling-and-other-concessions-to-big-oil-as-gas-prices-rise\">closure of refineries\u003c/a> in Los Angeles and Benicia in the last two years that supplied roughly 20% of the state’s refining capacity. A Chevron executive \u003ca href=\"https://www.chevron.com/newsroom/2026/q1/californias-economy-faces-threats-with-new-energy-policy-changes\" target=\"_blank\" rel=\"noreferrer noopener\">warned\u003c/a> in a March letter that the regulations would “cripple the survivability of the state’s remaining refineries.” CARB’s final blueprint, approved in May, increased the free allowances granted to polluters over the next three years. It also created the Manufacturing Decarbonization Incentive, which could grant companies additional allowances above the cap if they make investments in clean air technologies. The initiative is still being developed, but critics worry it could increase emissions and depress demand for allowances. \u003c/p>\n\n\n\n\u003cp>The tradeoff is a decline in the allowances given to utilities (which help fund a Climate Credit on customers’ bills) and a significant drop in allowances auctioned off to fill the Greenhouse Gas Reduction Fund. As a result, CARB projects $2 billion annually will be deposited into the fund, roughly half the amount in recent years. \u003c/p>\n\n\n\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>CA Democratic Party leaders support billionaire’s tax\u003c/strong>\u003c/h2>\n\n\n\n\u003cp>The executive board of the California Democratic Party \u003ca href=\"https://cadem.org/california-democratic-party-endorses-insurance-commissioner-and-statewide-ballot-measures-ahead-of-2026-general-election/\">threw its support behind Proposition 40\u003c/a>, the so-called billionaire’s tax on the November ballot. If approved, \u003ca href=\"https://calmatters.org/california-voter-guide-2026/proposition-40-billionaire-tax/\">the measure \u003c/a>would impose a 5%, one-time tax on billionaires’ assets to pay for healthcare.\u003c/p>\n\n\n\n\u003cp>Supporters argue that the people who would pay the tax are the ones who benefited the most financially from recent federal tax reforms. Congress also cut tens of billions from Medicaid, known as Medi-Cal in California, which provides health insurance to low-income people. \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">SEIU-UHW argues\u003c/a> those cuts will cause hospitals and clinics to close, costing thousands of jobs and worsening access for all patients.\u003c/p>\n\n\n\n\u003cp>Opponents include Silicon Valley entrepreneurs, business interests, and some health and labor organizations. They say the proposal will backfire, causing billionaires to leave California and decreasing tax revenue in the long run. Health groups say they weren’t consulted in designing the measure and that it does not solve the long-term fiscal challenges of funding healthcare. The same groups backed propositions 41 and 42, competing measures that would place limits on new special taxes.\u003c/p>\n\n\n\n\u003cp>The proposal has split the Democratic Party. Progressives like Vermont Senator Bernie Sanders and Bay Area Congressman Ro Khanna support the measure. But Governor Gavin Newsom, gubernatorial candidate Xavier Becerra and a growing list of labor unions have spoken out against it.\u003c/p>\n\n\n\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>\u003ca href=\"https://laist.com/la-county-says-a-program-meant-to-help-people-with-serious-mental-illness-is-gaining-traction\">LA County says a program meant to help people with serious mental illness is gaining traction\u003c/a>\u003c/strong>\u003c/h2>\n\n\n\n\u003cp>After a slow start, a program that aims to bring thousands of Angelenos living with serious mental illness under court-led care has seen a spike in petitions filed in recent months, Los Angeles County officials said.\u003c/p>\n\n\n\n\u003cp>CARE Court allows family members, first responders and others to ask a court — by way of a petition — to step in with a voluntary care agreement for someone living with serious, untreated mental illness, such as schizophrenia, to receive community-based mental health services. If the agreement fails, a judge could order the individual to sign on to a treatment plan.\u003c/p>\n\n\n\n\u003cp>Since launching in L.A. County in December 2023, the program saw thousands fewer petitions each year than were initially projected. But county officials said petitions filed in L.A. County jumped by about 85% between November 2025 and March 2026, with March seeing a total of 68 petitions.\u003c/p>\n\n\n\n\u003cp>Martin Jones, a program manager with the L.A. County Department of Mental Health, attributed the increase to working with hospitals, first responders and other groups to identify and refer people who might need help. “We’re doing quite a bit of work to put tools in their hands to also help them identify and refer folks to us who might benefit from the support,” Jones told LAist. “I think we’re approaching the project from several fronts and we’re seeing the results of that.”\u003c/p>\n\n\n\n\u003cp>Proponents of CARE Court say it provides a less restrictive and structured way to stabilize people living with a mental illness, and they say the recent increase in petitions shows that the program is gaining traction. \u003c/p>\n\n\n\n\u003cp>Some mental health and civil liberties advocates don’t see it as a positive development. “The number of petitions says nothing about outcomes, which is the real point of the program,” said Eve Garrow, policy analyst at the ACLU of Southern California. “Positive outcomes are really miniscule compared to the population in need.” \u003c/p>\n\n\n\n\u003cp>Analysis of the program statewide has shown that about half of the petitions end up getting dismissed, but L.A. County officials say more than 4,000 Californians statewide have been set up with alternative county services when a CARE agreement or plan is not appropriate.\u003c/p>\n\n\n\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>\u003c/p>\n\n",
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"innerHTML": "\n\u003cli>California lawmakers are returning to Sacramento from summer recess on Monday — and a fight is already brewing over \u003ca href=\"https://www.kqed.org/news/12093409/inside-the-fight-for-the-future-of-californias-climate-dollars\">the future of the state’s climate fund.\u003c/a> Governor Gavin Newsom’s administration has changed environmental rules to prevent higher gas prices. And that could lead to less money for affordable housing, transit and other projects to reduce carbon emissions. \u003c/li>\n",
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"innerHTML": "\n\u003cli>The CARE court mental health program has seen \u003ca href=\"https://laist.com/la-county-says-a-program-meant-to-help-people-with-serious-mental-illness-is-gaining-traction\">an increase in participation\u003c/a>, according to officials in Los Angeles County.\u003c/li>\n",
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"innerHTML": "\n\u003cp>Less than a year ago, Newsom and the Legislature \u003ca href=\"https://www.kqed.org/science/1998536/newsom-signs-climate-energy-bills-charting-state-course-through-perilous-mid-transition\">extended\u003c/a> the cap-and-trade program to 2045, renaming it cap-and-invest — a clear signal about lawmakers’ thoughts on the fiscal benefits of \u003ca href=\"https://www.kqed.org/news/12052825/whats-next-for-californias-landmark-climate-program\">the system\u003c/a>. By requiring major polluters to purchase permits to account for their emissions, it raises billions of dollars a year for programs ranging from high-speed rail to affordable housing. \u003c/p>\n",
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"innerHTML": "\n\u003cp>But the climate fund could shrink by as much as half due to new rules governing cap-and-invest, forcing lawmakers to make tough choices about how to spend the polluter proceeds — all while Newsom argues the program was never meant to be a permanent source of revenue. Their negotiations could come to a head in the next few weeks, before the final legislative session of the governor’s tenure comes to a close. \u003c/p>\n",
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"innerHTML": "\n\u003cp>The cap-and-invest rules, \u003ca href=\"https://www.kqed.org/news/12085401/amid-opposition-california-regulators-approve-major-changes-to-cap-and-trade-program\">approved\u003c/a> by the California Air Resources Board this spring, are expected to drastically reduce the number of pollution permits, known as allowances, that are auctioned off to fill the Greenhouse Gas Reduction Fund over the next three years. Instead, more pollution allowances will be given away to companies covered by the cap, such as oil refineries and factories, to prevent them from leaving California. “There is tension here insofar as there was an effort to rebrand the program as cap-and-invest — and now there are some serious concerns about the magnitude of the investments that will be coming out of this program,” said Kyle Meng, a professor of environmental economics at UC Santa Barbara. \u003c/p>\n",
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"\n\u003cp>The cap-and-invest rules, \u003ca href=\"https://www.kqed.org/news/12085401/amid-opposition-california-regulators-approve-major-changes-to-cap-and-trade-program\">approved\u003c/a> by the California Air Resources Board this spring, are expected to drastically reduce the number of pollution permits, known as allowances, that are auctioned off to fill the Greenhouse Gas Reduction Fund over the next three years. Instead, more pollution allowances will be given away to companies covered by the cap, such as oil refineries and factories, to prevent them from leaving California. “There is tension here insofar as there was an effort to rebrand the program as cap-and-invest — and now there are some serious concerns about the magnitude of the investments that will be coming out of this program,” said Kyle Meng, a professor of environmental economics at UC Santa Barbara. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Newsom signed the reauthorization of cap-and-invest in September, as part of \u003ca href=\"https://www.kqed.org/news/12055461/california-lawmakers-reach-last-minute-deals-on-climate-energy\">sweeping negotiations\u003c/a> on climate and energy that included a bill meant to boost the state’s oil industry by making it easier to drill in Kern County. Air regulators at CARB got to work designing a cap that would allow the state to achieve its climate goals — including reaching net-zero greenhouse gas emissions by 2045 — while also \u003ca href=\"https://www.kqed.org/news/12053867/affordability-concerns-at-center-of-cap-and-trade-renewal-debate\">addressing affordability\u003c/a>, a top priority for lawmakers during last year’s reauthorization debate. \u003c/p>\n",
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"\n\u003cp>Newsom signed the reauthorization of cap-and-invest in September, as part of \u003ca href=\"https://www.kqed.org/news/12055461/california-lawmakers-reach-last-minute-deals-on-climate-energy\">sweeping negotiations\u003c/a> on climate and energy that included a bill meant to boost the state’s oil industry by making it easier to drill in Kern County. Air regulators at CARB got to work designing a cap that would allow the state to achieve its climate goals — including reaching net-zero greenhouse gas emissions by 2045 — while also \u003ca href=\"https://www.kqed.org/news/12053867/affordability-concerns-at-center-of-cap-and-trade-renewal-debate\">addressing affordability\u003c/a>, a top priority for lawmakers during last year’s reauthorization debate. \u003c/p>\n"
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"innerHTML": "\n\u003cp>The first set of cap-and-invest rules unveiled in January drew fierce lobbying from the oil industry, which had already seen the \u003ca href=\"https://www.kqed.org/forum/2010101910826/california-considers-more-drilling-and-other-concessions-to-big-oil-as-gas-prices-rise\">closure of refineries\u003c/a> in Los Angeles and Benicia in the last two years that supplied roughly 20% of the state’s refining capacity. A Chevron executive \u003ca href=\"https://www.chevron.com/newsroom/2026/q1/californias-economy-faces-threats-with-new-energy-policy-changes\" target=\"_blank\" rel=\"noreferrer noopener\">warned\u003c/a> in a March letter that the regulations would “cripple the survivability of the state’s remaining refineries.” CARB’s final blueprint, approved in May, increased the free allowances granted to polluters over the next three years. It also created the Manufacturing Decarbonization Incentive, which could grant companies additional allowances above the cap if they make investments in clean air technologies. The initiative is still being developed, but critics worry it could increase emissions and depress demand for allowances. \u003c/p>\n",
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"\n\u003cp>The first set of cap-and-invest rules unveiled in January drew fierce lobbying from the oil industry, which had already seen the \u003ca href=\"https://www.kqed.org/forum/2010101910826/california-considers-more-drilling-and-other-concessions-to-big-oil-as-gas-prices-rise\">closure of refineries\u003c/a> in Los Angeles and Benicia in the last two years that supplied roughly 20% of the state’s refining capacity. A Chevron executive \u003ca href=\"https://www.chevron.com/newsroom/2026/q1/californias-economy-faces-threats-with-new-energy-policy-changes\" target=\"_blank\" rel=\"noreferrer noopener\">warned\u003c/a> in a March letter that the regulations would “cripple the survivability of the state’s remaining refineries.” CARB’s final blueprint, approved in May, increased the free allowances granted to polluters over the next three years. It also created the Manufacturing Decarbonization Incentive, which could grant companies additional allowances above the cap if they make investments in clean air technologies. The initiative is still being developed, but critics worry it could increase emissions and depress demand for allowances. \u003c/p>\n"
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"innerHTML": "\n\u003cp>The tradeoff is a decline in the allowances given to utilities (which help fund a Climate Credit on customers’ bills) and a significant drop in allowances auctioned off to fill the Greenhouse Gas Reduction Fund. As a result, CARB projects $2 billion annually will be deposited into the fund, roughly half the amount in recent years. \u003c/p>\n",
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"\n\u003cp>The tradeoff is a decline in the allowances given to utilities (which help fund a Climate Credit on customers’ bills) and a significant drop in allowances auctioned off to fill the Greenhouse Gas Reduction Fund. As a result, CARB projects $2 billion annually will be deposited into the fund, roughly half the amount in recent years. \u003c/p>\n"
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"text": "CA Democratic Party leaders support billionaire’s tax",
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"innerHTML": "\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>CA Democratic Party leaders support billionaire’s tax\u003c/strong>\u003c/h2>\n",
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"\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>CA Democratic Party leaders support billionaire’s tax\u003c/strong>\u003c/h2>\n"
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"innerHTML": "\n\u003cp>The executive board of the California Democratic Party \u003ca href=\"https://cadem.org/california-democratic-party-endorses-insurance-commissioner-and-statewide-ballot-measures-ahead-of-2026-general-election/\">threw its support behind Proposition 40\u003c/a>, the so-called billionaire’s tax on the November ballot. If approved, \u003ca href=\"https://calmatters.org/california-voter-guide-2026/proposition-40-billionaire-tax/\">the measure \u003c/a>would impose a 5%, one-time tax on billionaires’ assets to pay for healthcare.\u003c/p>\n",
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"\n\u003cp>The executive board of the California Democratic Party \u003ca href=\"https://cadem.org/california-democratic-party-endorses-insurance-commissioner-and-statewide-ballot-measures-ahead-of-2026-general-election/\">threw its support behind Proposition 40\u003c/a>, the so-called billionaire’s tax on the November ballot. If approved, \u003ca href=\"https://calmatters.org/california-voter-guide-2026/proposition-40-billionaire-tax/\">the measure \u003c/a>would impose a 5%, one-time tax on billionaires’ assets to pay for healthcare.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Supporters argue that the people who would pay the tax are the ones who benefited the most financially from recent federal tax reforms. Congress also cut tens of billions from Medicaid, known as Medi-Cal in California, which provides health insurance to low-income people. \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">SEIU-UHW argues\u003c/a> those cuts will cause hospitals and clinics to close, costing thousands of jobs and worsening access for all patients.\u003c/p>\n",
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"\n\u003cp>Supporters argue that the people who would pay the tax are the ones who benefited the most financially from recent federal tax reforms. Congress also cut tens of billions from Medicaid, known as Medi-Cal in California, which provides health insurance to low-income people. \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">SEIU-UHW argues\u003c/a> those cuts will cause hospitals and clinics to close, costing thousands of jobs and worsening access for all patients.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Opponents include Silicon Valley entrepreneurs, business interests, and some health and labor organizations. They say the proposal will backfire, causing billionaires to leave California and decreasing tax revenue in the long run. Health groups say they weren’t consulted in designing the measure and that it does not solve the long-term fiscal challenges of funding healthcare. The same groups backed propositions 41 and 42, competing measures that would place limits on new special taxes.\u003c/p>\n",
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"\n\u003cp>Opponents include Silicon Valley entrepreneurs, business interests, and some health and labor organizations. They say the proposal will backfire, causing billionaires to leave California and decreasing tax revenue in the long run. Health groups say they weren’t consulted in designing the measure and that it does not solve the long-term fiscal challenges of funding healthcare. The same groups backed propositions 41 and 42, competing measures that would place limits on new special taxes.\u003c/p>\n"
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"innerHTML": "\n\u003cp>The proposal has split the Democratic Party. Progressives like Vermont Senator Bernie Sanders and Bay Area Congressman Ro Khanna support the measure. But Governor Gavin Newsom, gubernatorial candidate Xavier Becerra and a growing list of labor unions have spoken out against it.\u003c/p>\n",
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"\n\u003cp>The proposal has split the Democratic Party. Progressives like Vermont Senator Bernie Sanders and Bay Area Congressman Ro Khanna support the measure. But Governor Gavin Newsom, gubernatorial candidate Xavier Becerra and a growing list of labor unions have spoken out against it.\u003c/p>\n"
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"attrs": {
"text": "LA County says a program meant to help people with serious mental illness is gaining traction",
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"innerHTML": "\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>\u003ca href=\"https://laist.com/la-county-says-a-program-meant-to-help-people-with-serious-mental-illness-is-gaining-traction\">LA County says a program meant to help people with serious mental illness is gaining traction\u003c/a>\u003c/strong>\u003c/h2>\n",
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"\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>\u003ca href=\"https://laist.com/la-county-says-a-program-meant-to-help-people-with-serious-mental-illness-is-gaining-traction\">LA County says a program meant to help people with serious mental illness is gaining traction\u003c/a>\u003c/strong>\u003c/h2>\n"
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"innerHTML": "\n\u003cp>After a slow start, a program that aims to bring thousands of Angelenos living with serious mental illness under court-led care has seen a spike in petitions filed in recent months, Los Angeles County officials said.\u003c/p>\n",
"innerContent": [
"\n\u003cp>After a slow start, a program that aims to bring thousands of Angelenos living with serious mental illness under court-led care has seen a spike in petitions filed in recent months, Los Angeles County officials said.\u003c/p>\n"
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"innerHTML": "\n\u003cp>CARE Court allows family members, first responders and others to ask a court — by way of a petition — to step in with a voluntary care agreement for someone living with serious, untreated mental illness, such as schizophrenia, to receive community-based mental health services. If the agreement fails, a judge could order the individual to sign on to a treatment plan.\u003c/p>\n",
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"\n\u003cp>CARE Court allows family members, first responders and others to ask a court — by way of a petition — to step in with a voluntary care agreement for someone living with serious, untreated mental illness, such as schizophrenia, to receive community-based mental health services. If the agreement fails, a judge could order the individual to sign on to a treatment plan.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Since launching in L.A. County in December 2023, the program saw thousands fewer petitions each year than were initially projected. But county officials said petitions filed in L.A. County jumped by about 85% between November 2025 and March 2026, with March seeing a total of 68 petitions.\u003c/p>\n",
"innerContent": [
"\n\u003cp>Since launching in L.A. County in December 2023, the program saw thousands fewer petitions each year than were initially projected. But county officials said petitions filed in L.A. County jumped by about 85% between November 2025 and March 2026, with March seeing a total of 68 petitions.\u003c/p>\n"
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"innerHTML": "\n\u003cp>Martin Jones, a program manager with the L.A. County Department of Mental Health, attributed the increase to working with hospitals, first responders and other groups to identify and refer people who might need help. “We’re doing quite a bit of work to put tools in their hands to also help them identify and refer folks to us who might benefit from the support,” Jones told LAist. “I think we’re approaching the project from several fronts and we’re seeing the results of that.”\u003c/p>\n",
"innerContent": [
"\n\u003cp>Martin Jones, a program manager with the L.A. County Department of Mental Health, attributed the increase to working with hospitals, first responders and other groups to identify and refer people who might need help. “We’re doing quite a bit of work to put tools in their hands to also help them identify and refer folks to us who might benefit from the support,” Jones told LAist. “I think we’re approaching the project from several fronts and we’re seeing the results of that.”\u003c/p>\n"
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"innerHTML": "\n\u003cp>Proponents of CARE Court say it provides a less restrictive and structured way to stabilize people living with a mental illness, and they say the recent increase in petitions shows that the program is gaining traction. \u003c/p>\n",
"innerContent": [
"\n\u003cp>Proponents of CARE Court say it provides a less restrictive and structured way to stabilize people living with a mental illness, and they say the recent increase in petitions shows that the program is gaining traction. \u003c/p>\n"
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"innerHTML": "\n\u003cp>Some mental health and civil liberties advocates don’t see it as a positive development. “The number of petitions says nothing about outcomes, which is the real point of the program,” said Eve Garrow, policy analyst at the ACLU of Southern California. “Positive outcomes are really miniscule compared to the population in need.” \u003c/p>\n",
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"\n\u003cp>Some mental health and civil liberties advocates don’t see it as a positive development. “The number of petitions says nothing about outcomes, which is the real point of the program,” said Eve Garrow, policy analyst at the ACLU of Southern California. “Positive outcomes are really miniscule compared to the population in need.” \u003c/p>\n"
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"innerHTML": "\n\u003cp>Analysis of the program statewide has shown that about half of the petitions end up getting dismissed, but L.A. County officials say more than 4,000 Californians statewide have been set up with alternative county services when a CARE agreement or plan is not appropriate.\u003c/p>\n",
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"\n\u003cp>Analysis of the program statewide has shown that about half of the petitions end up getting dismissed, but L.A. County officials say more than 4,000 Californians statewide have been set up with alternative county services when a CARE agreement or plan is not appropriate.\u003c/p>\n"
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cstrong>Here are the morning’s top stories on Monday, August 3, 2026\u003c/strong>\u003c/p>\n\n\n\n\u003cul class=\"wp-block-list\">\n\u003cli>California lawmakers are returning to Sacramento from summer recess on Monday — and a fight is already brewing over \u003ca href=\"https://www.kqed.org/news/12093409/inside-the-fight-for-the-future-of-californias-climate-dollars\">the future of the state’s climate fund.\u003c/a> Governor Gavin Newsom’s administration has changed environmental rules to prevent higher gas prices. And that could lead to less money for affordable housing, transit and other projects to reduce carbon emissions. \u003c/li>\n\n\n\n\u003cli>The executive board of the California Democratic Party threw its support behind Proposition 40, the so-called billionaire’s tax on the November ballot. If approved, the measure would impose a 5%, one-time tax on billionaires’ assets to pay for healthcare. \u003c/li>\n\n\n\n\u003cli>The CARE court mental health program has seen \u003ca href=\"https://laist.com/la-county-says-a-program-meant-to-help-people-with-serious-mental-illness-is-gaining-traction\">an increase in participation\u003c/a>, according to officials in Los Angeles County.\u003c/li>\n\u003c/ul>\n\n\n\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>\u003ca href=\"https://www.kqed.org/news/12093409/inside-the-fight-for-the-future-of-californias-climate-dollars\">Inside the fight for the future of California’s climate dollars\u003c/a>\u003c/strong>\u003c/h2>\n\n\n\n\u003cp>As state lawmakers return to the Capitol from summer recess on Monday, Democrats are spoiling for a fight with Gov. \u003ca href=\"https://www.kqed.org/news/tag/gavin-newsom\">Gavin Newsom\u003c/a> over the future of California’s signature climate fund. \u003c/p>\n\n\n\n\u003cp>Less than a year ago, Newsom and the Legislature \u003ca href=\"https://www.kqed.org/science/1998536/newsom-signs-climate-energy-bills-charting-state-course-through-perilous-mid-transition\">extended\u003c/a> the cap-and-trade program to 2045, renaming it cap-and-invest — a clear signal about lawmakers’ thoughts on the fiscal benefits of \u003ca href=\"https://www.kqed.org/news/12052825/whats-next-for-californias-landmark-climate-program\">the system\u003c/a>. By requiring major polluters to purchase permits to account for their emissions, it raises billions of dollars a year for programs ranging from high-speed rail to affordable housing. \u003c/p>\n\n\n\n\u003cp>But the climate fund could shrink by as much as half due to new rules governing cap-and-invest, forcing lawmakers to make tough choices about how to spend the polluter proceeds — all while Newsom argues the program was never meant to be a permanent source of revenue. Their negotiations could come to a head in the next few weeks, before the final legislative session of the governor’s tenure comes to a close. \u003c/p>\n\n\n\n\u003cp>The cap-and-invest rules, \u003ca href=\"https://www.kqed.org/news/12085401/amid-opposition-california-regulators-approve-major-changes-to-cap-and-trade-program\">approved\u003c/a> by the California Air Resources Board this spring, are expected to drastically reduce the number of pollution permits, known as allowances, that are auctioned off to fill the Greenhouse Gas Reduction Fund over the next three years. Instead, more pollution allowances will be given away to companies covered by the cap, such as oil refineries and factories, to prevent them from leaving California. “There is tension here insofar as there was an effort to rebrand the program as cap-and-invest — and now there are some serious concerns about the magnitude of the investments that will be coming out of this program,” said Kyle Meng, a professor of environmental economics at UC Santa Barbara. \u003c/p>\n\n\n\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>Newsom signed the reauthorization of cap-and-invest in September, as part of \u003ca href=\"https://www.kqed.org/news/12055461/california-lawmakers-reach-last-minute-deals-on-climate-energy\">sweeping negotiations\u003c/a> on climate and energy that included a bill meant to boost the state’s oil industry by making it easier to drill in Kern County. Air regulators at CARB got to work designing a cap that would allow the state to achieve its climate goals — including reaching net-zero greenhouse gas emissions by 2045 — while also \u003ca href=\"https://www.kqed.org/news/12053867/affordability-concerns-at-center-of-cap-and-trade-renewal-debate\">addressing affordability\u003c/a>, a top priority for lawmakers during last year’s reauthorization debate. \u003c/p>\n\n\n\n\u003cp>The first set of cap-and-invest rules unveiled in January drew fierce lobbying from the oil industry, which had already seen the \u003ca href=\"https://www.kqed.org/forum/2010101910826/california-considers-more-drilling-and-other-concessions-to-big-oil-as-gas-prices-rise\">closure of refineries\u003c/a> in Los Angeles and Benicia in the last two years that supplied roughly 20% of the state’s refining capacity. A Chevron executive \u003ca href=\"https://www.chevron.com/newsroom/2026/q1/californias-economy-faces-threats-with-new-energy-policy-changes\" target=\"_blank\" rel=\"noreferrer noopener\">warned\u003c/a> in a March letter that the regulations would “cripple the survivability of the state’s remaining refineries.” CARB’s final blueprint, approved in May, increased the free allowances granted to polluters over the next three years. It also created the Manufacturing Decarbonization Incentive, which could grant companies additional allowances above the cap if they make investments in clean air technologies. The initiative is still being developed, but critics worry it could increase emissions and depress demand for allowances. \u003c/p>\n\n\n\n\u003cp>The tradeoff is a decline in the allowances given to utilities (which help fund a Climate Credit on customers’ bills) and a significant drop in allowances auctioned off to fill the Greenhouse Gas Reduction Fund. As a result, CARB projects $2 billion annually will be deposited into the fund, roughly half the amount in recent years. \u003c/p>\n\n\n\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>CA Democratic Party leaders support billionaire’s tax\u003c/strong>\u003c/h2>\n\n\n\n\u003cp>The executive board of the California Democratic Party \u003ca href=\"https://cadem.org/california-democratic-party-endorses-insurance-commissioner-and-statewide-ballot-measures-ahead-of-2026-general-election/\">threw its support behind Proposition 40\u003c/a>, the so-called billionaire’s tax on the November ballot. If approved, \u003ca href=\"https://calmatters.org/california-voter-guide-2026/proposition-40-billionaire-tax/\">the measure \u003c/a>would impose a 5%, one-time tax on billionaires’ assets to pay for healthcare.\u003c/p>\n\n\n\n\u003cp>Supporters argue that the people who would pay the tax are the ones who benefited the most financially from recent federal tax reforms. Congress also cut tens of billions from Medicaid, known as Medi-Cal in California, which provides health insurance to low-income people. \u003ca href=\"https://www.kqed.org/news/12093303/the-union-man-taking-on-the-democratic-establishment-with-a-billionaire-tax\">SEIU-UHW argues\u003c/a> those cuts will cause hospitals and clinics to close, costing thousands of jobs and worsening access for all patients.\u003c/p>\n\n\n\n\u003cp>Opponents include Silicon Valley entrepreneurs, business interests, and some health and labor organizations. They say the proposal will backfire, causing billionaires to leave California and decreasing tax revenue in the long run. Health groups say they weren’t consulted in designing the measure and that it does not solve the long-term fiscal challenges of funding healthcare. The same groups backed propositions 41 and 42, competing measures that would place limits on new special taxes.\u003c/p>\n\n\n\n\u003cp>The proposal has split the Democratic Party. Progressives like Vermont Senator Bernie Sanders and Bay Area Congressman Ro Khanna support the measure. But Governor Gavin Newsom, gubernatorial candidate Xavier Becerra and a growing list of labor unions have spoken out against it.\u003c/p>\n\n\n\n\u003ch2 class=\"wp-block-heading\">\u003cstrong>\u003ca href=\"https://laist.com/la-county-says-a-program-meant-to-help-people-with-serious-mental-illness-is-gaining-traction\">LA County says a program meant to help people with serious mental illness is gaining traction\u003c/a>\u003c/strong>\u003c/h2>\n\n\n\n\u003cp>After a slow start, a program that aims to bring thousands of Angelenos living with serious mental illness under court-led care has seen a spike in petitions filed in recent months, Los Angeles County officials said.\u003c/p>\n\n\n\n\u003cp>CARE Court allows family members, first responders and others to ask a court — by way of a petition — to step in with a voluntary care agreement for someone living with serious, untreated mental illness, such as schizophrenia, to receive community-based mental health services. If the agreement fails, a judge could order the individual to sign on to a treatment plan.\u003c/p>\n\n\n\n\u003cp>Since launching in L.A. County in December 2023, the program saw thousands fewer petitions each year than were initially projected. But county officials said petitions filed in L.A. County jumped by about 85% between November 2025 and March 2026, with March seeing a total of 68 petitions.\u003c/p>\n\n\n\n\u003cp>Martin Jones, a program manager with the L.A. County Department of Mental Health, attributed the increase to working with hospitals, first responders and other groups to identify and refer people who might need help. “We’re doing quite a bit of work to put tools in their hands to also help them identify and refer folks to us who might benefit from the support,” Jones told LAist. “I think we’re approaching the project from several fronts and we’re seeing the results of that.”\u003c/p>\n\n\n\n\u003cp>Proponents of CARE Court say it provides a less restrictive and structured way to stabilize people living with a mental illness, and they say the recent increase in petitions shows that the program is gaining traction. \u003c/p>\n\n\n\n\u003cp>Some mental health and civil liberties advocates don’t see it as a positive development. “The number of petitions says nothing about outcomes, which is the real point of the program,” said Eve Garrow, policy analyst at the ACLU of Southern California. “Positive outcomes are really miniscule compared to the population in need.” \u003c/p>\n\n\n\n\u003cp>Analysis of the program statewide has shown that about half of the petitions end up getting dismissed, but L.A. County officials say more than 4,000 Californians statewide have been set up with alternative county services when a CARE agreement or plan is not appropriate.\u003c/p>\n\n\n\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cp>Dave Regan built his career fighting for the underdog. Now he’s taking on California’s billionaires. \u003c/p>\n\n\n\n\u003cp>Regan leads SEIU-UHW, a union representing more than 120,000 healthcare workers in the state. He’s known for taking on the state’s most powerful interests and using ballot initiatives as leverage to force negotiations. \u003c/p>\n\n\n\n\u003cp>His latest proposal is a controversial billionaire wealth tax on the November ballot that has split the labor community and Democratic party in California. The measure aims to offset looming MediCal cuts from President Trump’s so-called “big beautiful bill” by issuing a one-time, 5% tax on the assets of the state’s billionaires. \u003c/p>\n\n\n\n\u003cp>\u003cbr>Marisa sits down with Regan to talk about his upbringing, how he got into organizing and the backroom negotiations with Gov. Gavin Newsom to pull the measure off the ballot that ultimately failed. \u003c/p>\n\n\n\n\u003cp>Check out \u003ca href=\"https://www.kqed.org/newsletters/political-breakdown\">Political Breakdown’s weekly newsletter\u003c/a>, delivered straight to your inbox.\u003c/p>\n\n\n\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>Dave Regan built his career fighting for the underdog. Now he’s taking on California’s billionaires. \u003c/p>\n\n\n\n\u003cp>Regan leads SEIU-UHW, a union representing more than 120,000 healthcare workers in the state. He’s known for taking on the state’s most powerful interests and using ballot initiatives as leverage to force negotiations. \u003c/p>\n\n\n\n\u003cp>His latest proposal is a controversial billionaire wealth tax on the November ballot that has split the labor community and Democratic party in California. The measure aims to offset looming MediCal cuts from President Trump’s so-called “big beautiful bill” by issuing a one-time, 5% tax on the assets of the state’s billionaires. \u003c/p>\n\n\n\n\u003cp>\u003cbr>Marisa sits down with Regan to talk about his upbringing, how he got into organizing and the backroom negotiations with Gov. Gavin Newsom to pull the measure off the ballot that ultimately failed. \u003c/p>\n\n\n\n\u003cp>Check out \u003ca href=\"https://www.kqed.org/newsletters/political-breakdown\">Political Breakdown’s weekly newsletter\u003c/a>, delivered straight to your inbox.\u003c/p>\n\n\n\n\u003cp>\u003c/p>\u003c/div>",
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"title": "California Billionaire Tax Will Be on November’s Ballot, Along With These 13 Measures",
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"content": "\u003cp>\u003ca href=\"https://www.kqed.org/electionsnews\">California voters\u003c/a> this fall will decide whether to levy a one-off wealth tax on billionaires, require identification to vote and expand the state’s rainy day fund — among the 14 measures on the November ballot, the secretary of state announced on Thursday.\u003c/p>\n\u003cp>The ballot is packed with showdowns between business and labor, requests for borrowing and changes to the state’s election laws. The result could be high-profile and expensive campaigns that are likely to overshadow the races for governor and many other statewide offices.\u003c/p>\n\u003cp>Here’s a first look at the measures on the ballot, according to the list finalized Thursday:\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003cstrong>Billionaire wealth tax: \u003c/strong>It’s hard to remember a measure with this much buzz before it even \u003ca href=\"https://www.kqed.org/news/12088063/5-things-to-know-about-californias-new-billionaire-tax-measure\">qualified for the ballot\u003c/a>. This initiative, brought to the ballot by the healthcare workers union SEIU-UHW, would enact a one-time 5% tax on the wealth of California billionaires who were living in the state on Jan. 1, 2026. Proponents kept the measure on the ballot despite a flurry of last-minute negotiations with state leaders who oppose the idea.\u003c/p>\n\u003cp>\u003cstrong>Billionaire wealth tax poison pill\u003c/strong>: Opponents of the billionaire tax, led by Google co-founder Sergey Brin, gathered the signatures for two measures written to invalidate the wealth tax. This initiative would ban taxes that target financial assets, personal property or that are enacted retroactively.\u003c/p>\n\u003cp>\u003cstrong>Another billionaire wealth tax poison pill\u003c/strong>: A second measure introduced to counter the billionaire tax would ban new taxes that exempt their revenue from California’s state spending limit, which the proposed wealth tax does. It would also require audits of state tax proposals.\u003c/p>\n\u003cfigure id=\"attachment_12062365\" class=\"wp-caption alignnone\" style=\"max-width: 2000px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-12062365\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED.jpg\" alt=\"\" width=\"2000\" height=\"1333\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-caption-text\">A voter is given a sticker after dropping his ballot at City Hall in San Francisco on Oct. 30, 2025, ahead of the statewide special election. \u003ccite>(Beth LaBerge/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>\u003cstrong>Voter ID: \u003c/strong>This measure, backed by California Republicans, would require Californians to \u003ca href=\"https://www.kqed.org/news/12081404/voter-id-initiative-qualifies-for-californias-november-election\">provide a government ID to vote \u003c/a>in person or provide the last four digits of a government-issued number if voting by mail.\u003c/p>\n\u003cp>\u003cstrong>Local taxes: \u003c/strong>In a deal struck late Thursday, the Legislature placed a measure on the ballot that would require two-thirds voter approval for any local tax that earmarks revenue for a specific purpose. Currently, local taxes can pass with a majority vote if they were placed on the ballot by citizens. In response, the Howard Jarvis Taxpayers Association agreed to withdraw a measure from the ballot that would have also limited local real estate taxes — both retroactively and moving forward.\u003c/p>\n\u003cp>\u003cstrong>Recall rules: \u003c/strong>In \u003ca href=\"https://www.kqed.org/news/11888736/newsom-crushed-the-recall-now-democrats-want-to-change-the-system\">gubernatorial recall elections\u003c/a>, California voters are asked two questions: Should the governor be recalled? And, if the recall is successful, who should be the next governor? This measure, placed on the ballot by the Legislature, would eliminate that second question and instead replace a recalled governor with the lieutenant governor — or through a subsequent special election.\u003c/p>\n\u003cp>\u003cstrong>Public campaign financing: \u003c/strong>Under this measure, more local governments in California would be allowed to establish systems of public campaign financing — in which candidates can receive taxpayer dollars for their campaigns if they demonstrate a certain level of viability. Currently, only charter cities (such as Los Angeles and San Francisco) can enact public financing for local elections.\u003c/p>\n\u003cfigure id=\"attachment_11985441\" class=\"wp-caption alignnone\" style=\"max-width: 2000px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11985441\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED.jpg\" alt=\"\" width=\"2000\" height=\"1333\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-800x533.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-1020x680.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-1536x1024.jpg 1536w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-1920x1280.jpg 1920w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-caption-text\">A home for sale on Hillside Road in San Carlos on May 8, 2024. \u003ccite>(Gina Castro/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>\u003cstrong>Homebuyer assistance: \u003c/strong>Backed by former Assembly Speaker Bob Hertzberg, this $25 billion bond measure would fund mortgages for middle-income Californians who are purchasing a newly constructed home worth less than $1.5 million. The loans would act as a second mortgage for the buyer, covering up to 17% of the purchase price.\u003c/p>\n\u003cp>\u003cstrong>Housing bond: \u003c/strong>The state Legislature passed this $11.2 billion bond measure on Thursday, and Gov. Gavin Newsom quickly signed it onto the ballot. If voters approve it, $10 billion will be spent on building, acquiring or preserving affordable housing, while $1.25 billion will go toward home loans for California veterans.\u003c/p>\n\u003cp>\u003cstrong>Income tax: \u003c/strong>In 2012, California voters approved boosting income tax rates on high-income residents, and then they extended those rates in 2016. This measure, backed by unions representing California teachers, would make those higher income tax rates permanent.[aside postID=news_12088417 hero='https://cdn.kqed.org/wp-content/uploads/sites/10/2026/06/TPSGetty.jpg']\u003cstrong>Healthcare spending\u003c/strong>: Another SEIU-UHW-backed measure would require health clinics, which traditionally serve low-income patients in areas with limited healthcare services, to spend 90% of their revenue on patient services, rather than administrative costs. Failure to adhere to the measure would force clinics to pay fines and penalties that eventually would be used for clinic workforce programs.\u003c/p>\n\u003cp>\u003cstrong>CEQA overhaul: \u003c/strong>Under this proposal, the \u003ca href=\"https://www.kqed.org/news/12046558/california-lawmakers-approve-major-overhaul-of-landmark-environmental-law\">California Environmental Quality Act\u003c/a>, or CEQA, would be changed to speed up environmental reviews for certain projects and limit legal challenges under the law. The California Chamber of Commerce would spearhead the proposal and would apply to developments including housing, transportation, clean energy projects, hospitals, schools and water systems.\u003c/p>\n\u003cp>\u003cstrong>Rainy day fund\u003c/strong>: The Legislature voted Thursday to place this measure on the ballot in order to boost the state’s \u003ca href=\"https://www.kqed.org/news/12083617/newsom-touts-dominance-of-california-in-final-budget-proposal\">ability to save money\u003c/a> during flush budget years. The constitutional amendment would increase the cap on rainy day fund deposits from 10% of general fund revenue to 20% and exempt those deposits from counting against the state spending limit. Higher deposits would also be triggered in years with higher capital gains tax revenue.\u003c/p>\n\u003cp>\u003cstrong>Immunology bond: \u003c/strong>This $8.4 billion bond would fund research into immunology and immunotherapy — earmarking half of the money for work on cancer, heart disease and Alzheimer’s disease. The measure’s main sponsor is Dr. Gary Michelson, an investor and philanthropist.\u003c/p>\n\u003cp>\u003c/p>\n",
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"excerpt": "A one-time wealth tax on California’s billionaires, voter ID requirements, and changes to environmental and election law are among the propositions heading to the ballot this fall.",
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"title": "California Billionaire Tax Will Be on November’s Ballot, Along With These 13 Measures | KQED",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003ca href=\"https://www.kqed.org/electionsnews\">California voters\u003c/a> this fall will decide whether to levy a one-off wealth tax on billionaires, require identification to vote and expand the state’s rainy day fund — among the 14 measures on the November ballot, the secretary of state announced on Thursday.\u003c/p>\n\u003cp>The ballot is packed with showdowns between business and labor, requests for borrowing and changes to the state’s election laws. The result could be high-profile and expensive campaigns that are likely to overshadow the races for governor and many other statewide offices.\u003c/p>\n\u003cp>Here’s a first look at the measures on the ballot, according to the list finalized Thursday:\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003cstrong>Billionaire wealth tax: \u003c/strong>It’s hard to remember a measure with this much buzz before it even \u003ca href=\"https://www.kqed.org/news/12088063/5-things-to-know-about-californias-new-billionaire-tax-measure\">qualified for the ballot\u003c/a>. This initiative, brought to the ballot by the healthcare workers union SEIU-UHW, would enact a one-time 5% tax on the wealth of California billionaires who were living in the state on Jan. 1, 2026. Proponents kept the measure on the ballot despite a flurry of last-minute negotiations with state leaders who oppose the idea.\u003c/p>\n\u003cp>\u003cstrong>Billionaire wealth tax poison pill\u003c/strong>: Opponents of the billionaire tax, led by Google co-founder Sergey Brin, gathered the signatures for two measures written to invalidate the wealth tax. This initiative would ban taxes that target financial assets, personal property or that are enacted retroactively.\u003c/p>\n\u003cp>\u003cstrong>Another billionaire wealth tax poison pill\u003c/strong>: A second measure introduced to counter the billionaire tax would ban new taxes that exempt their revenue from California’s state spending limit, which the proposed wealth tax does. It would also require audits of state tax proposals.\u003c/p>\n\u003cfigure id=\"attachment_12062365\" class=\"wp-caption alignnone\" style=\"max-width: 2000px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-12062365\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED.jpg\" alt=\"\" width=\"2000\" height=\"1333\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2025/10/251030-BAYAREAVOTERS-06-BL-KQED-1536x1024.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-caption-text\">A voter is given a sticker after dropping his ballot at City Hall in San Francisco on Oct. 30, 2025, ahead of the statewide special election. \u003ccite>(Beth LaBerge/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>\u003cstrong>Voter ID: \u003c/strong>This measure, backed by California Republicans, would require Californians to \u003ca href=\"https://www.kqed.org/news/12081404/voter-id-initiative-qualifies-for-californias-november-election\">provide a government ID to vote \u003c/a>in person or provide the last four digits of a government-issued number if voting by mail.\u003c/p>\n\u003cp>\u003cstrong>Local taxes: \u003c/strong>In a deal struck late Thursday, the Legislature placed a measure on the ballot that would require two-thirds voter approval for any local tax that earmarks revenue for a specific purpose. Currently, local taxes can pass with a majority vote if they were placed on the ballot by citizens. In response, the Howard Jarvis Taxpayers Association agreed to withdraw a measure from the ballot that would have also limited local real estate taxes — both retroactively and moving forward.\u003c/p>\n\u003cp>\u003cstrong>Recall rules: \u003c/strong>In \u003ca href=\"https://www.kqed.org/news/11888736/newsom-crushed-the-recall-now-democrats-want-to-change-the-system\">gubernatorial recall elections\u003c/a>, California voters are asked two questions: Should the governor be recalled? And, if the recall is successful, who should be the next governor? This measure, placed on the ballot by the Legislature, would eliminate that second question and instead replace a recalled governor with the lieutenant governor — or through a subsequent special election.\u003c/p>\n\u003cp>\u003cstrong>Public campaign financing: \u003c/strong>Under this measure, more local governments in California would be allowed to establish systems of public campaign financing — in which candidates can receive taxpayer dollars for their campaigns if they demonstrate a certain level of viability. Currently, only charter cities (such as Los Angeles and San Francisco) can enact public financing for local elections.\u003c/p>\n\u003cfigure id=\"attachment_11985441\" class=\"wp-caption alignnone\" style=\"max-width: 2000px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11985441\" src=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED.jpg\" alt=\"\" width=\"2000\" height=\"1333\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED.jpg 2000w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-800x533.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-1020x680.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-1536x1024.jpg 1536w, https://cdn.kqed.org/wp-content/uploads/sites/10/2024/05/20240508_WHATTOMAKETOBUYHOMECA-11-KQED-1920x1280.jpg 1920w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\">\u003cfigcaption class=\"wp-caption-text\">A home for sale on Hillside Road in San Carlos on May 8, 2024. \u003ccite>(Gina Castro/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>\u003cstrong>Homebuyer assistance: \u003c/strong>Backed by former Assembly Speaker Bob Hertzberg, this $25 billion bond measure would fund mortgages for middle-income Californians who are purchasing a newly constructed home worth less than $1.5 million. The loans would act as a second mortgage for the buyer, covering up to 17% of the purchase price.\u003c/p>\n\u003cp>\u003cstrong>Housing bond: \u003c/strong>The state Legislature passed this $11.2 billion bond measure on Thursday, and Gov. Gavin Newsom quickly signed it onto the ballot. If voters approve it, $10 billion will be spent on building, acquiring or preserving affordable housing, while $1.25 billion will go toward home loans for California veterans.\u003c/p>\n\u003cp>\u003cstrong>Income tax: \u003c/strong>In 2012, California voters approved boosting income tax rates on high-income residents, and then they extended those rates in 2016. This measure, backed by unions representing California teachers, would make those higher income tax rates permanent.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cstrong>Healthcare spending\u003c/strong>: Another SEIU-UHW-backed measure would require health clinics, which traditionally serve low-income patients in areas with limited healthcare services, to spend 90% of their revenue on patient services, rather than administrative costs. Failure to adhere to the measure would force clinics to pay fines and penalties that eventually would be used for clinic workforce programs.\u003c/p>\n\u003cp>\u003cstrong>CEQA overhaul: \u003c/strong>Under this proposal, the \u003ca href=\"https://www.kqed.org/news/12046558/california-lawmakers-approve-major-overhaul-of-landmark-environmental-law\">California Environmental Quality Act\u003c/a>, or CEQA, would be changed to speed up environmental reviews for certain projects and limit legal challenges under the law. The California Chamber of Commerce would spearhead the proposal and would apply to developments including housing, transportation, clean energy projects, hospitals, schools and water systems.\u003c/p>\n\u003cp>\u003cstrong>Rainy day fund\u003c/strong>: The Legislature voted Thursday to place this measure on the ballot in order to boost the state’s \u003ca href=\"https://www.kqed.org/news/12083617/newsom-touts-dominance-of-california-in-final-budget-proposal\">ability to save money\u003c/a> during flush budget years. The constitutional amendment would increase the cap on rainy day fund deposits from 10% of general fund revenue to 20% and exempt those deposits from counting against the state spending limit. Higher deposits would also be triggered in years with higher capital gains tax revenue.\u003c/p>\n\u003cp>\u003cstrong>Immunology bond: \u003c/strong>This $8.4 billion bond would fund research into immunology and immunotherapy — earmarking half of the money for work on cancer, heart disease and Alzheimer’s disease. The measure’s main sponsor is Dr. Gary Michelson, an investor and philanthropist.\u003c/p>\n\u003cp>\u003c/p>\n\u003c/div>\u003c/p>",
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"slug": "family-medicine-doctors-help-provide-maternity-care-in-south-monterey-county",
"title": "Family Medicine Doctors Help Provide Maternity Care in South Monterey County",
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"content": "\u003cp>\u003cb>Here are the morning’s top stories on Thursday, June 18, 2026\u003c/b>\u003c/p>\n\u003cul>\n\u003cli style=\"font-weight: 400\">\u003cspan style=\"font-weight: 400\">Over the past decade, dozens of maternity wards have shut down across California, and that raises risks for pregnant patients. At \u003ca href=\"https://www.kazu.org/kazu-news/2026-06-08/family-medicine-doctors-help-provide-maternity-care-in-south-monterey-county\">one rural Monterey County hospital\u003c/a>, family medicine doctors are stepping in to help fill the gaps in service. \u003c/span>\u003c/li>\n\u003cli style=\"font-weight: 400\">\u003cspan style=\"font-weight: 400\">A controversial proposal to tax California billionaires has \u003ca href=\"https://calmatters.org/politics/2026/06/california-unions-billionaire-tax-ballot/\">qualified for the November ballot.\u003c/a> \u003c/span>\u003c/li>\n\u003cli style=\"font-weight: 400\">\u003cspan style=\"font-weight: 400\">In Orange County, \u003ca href=\"https://laist.com/news/housing-homelessness/orange-county-california-low-income-housing-limit-six-figure-salary\">workers earning six figures\u003c/a> can now qualify for low-income housing.\u003c/span>\u003c/li>\n\u003c/ul>\n\u003ch2>\u003ca href=\"https://www.kazu.org/kazu-news/2026-06-08/family-medicine-doctors-help-provide-maternity-care-in-south-monterey-county\">\u003cstrong>Monterey County patients get assistance with maternal care\u003c/strong>\u003c/a>\u003c/h2>\n\u003cp>Mee Memorial Hospital, the only hospital in southern Monterey County, serves a largely rural and farmworker population of about 80,000. It’s located in King City, a small town in the Salinas Valley. That’s where Dr. Ruth Pedraza sees about 25 patients a day. As a family medicine physician, she treats people of all ages, from babies to the elderly. And that pool includes some who are pregnant.\u003c/p>\n\u003cp>“We follow up with them after their regular screenings, but also see their child too (when they’re born),” Pedraza said. Mee Memorial hasn’t had a labor and delivery unit for six years. But since then, family medicine doctors like Pedraza, with additional training in obstetrics, have stepped in to help pregnant patients get prenatal care.\u003c/p>\n\u003cp>Babies in South Monterey County still have to be delivered about an hour away at major hospitals in Salinas. But during consultations, Pedraza makes sure expectant moms know that pre-natal testing, which helps prevent stillbirths, is also available at Mee Memorial. “I sometimes tell patients, ‘Why don’t we do (pre-natal testing) once here and once over there?'” she said. “They’re like, ‘I have no transportation.’ Great, we can do it here in the clinic.”\u003c/p>\n\u003cp>Pedraza did an obstetrics fellowship at the county’s public hospital, Natividad in Salinas, where she trained to do vaginal deliveries and C-sections, and to manage high-risk pregnancies. Natividad is one of the \u003ca class=\"Link\" href=\"https://www.abpsus.org/family-medicine-obstetrics-fellowship-programs/\" target=\"_blank\" rel=\"noopener\">seven\u003c/a> hospitals in California offering obstetrics fellowships to family medicine physicians. This level of care is important in rural areas, where hospitals like Mee Memorial have been hit hardest by financial challenges and staffing shortages.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003ca class=\"Link\" href=\"https://calhospital.org/wp-content/uploads/2025/02/CHA_Environmental-Scan_Maternity-Care_Final.pdf\" target=\"_blank\" rel=\"noopener\">Data\u003c/a> from the California Hospital Association show that more than 50 maternity care units have closed or been suspended over the last decade. Association president Carmela Coyle said hospitals have to think creatively about filling these gaps. This includes integrating other providers like family medicine physicians, into the labor and delivery team to lessen dependency on OB-GYN expertise. “Of course, OB-GYNs are central to the team, but can we think about how we can use our healthcare workforce more flexibly?” Coyle said.\u003c/p>\n\u003cp>But some experts say this doesn’t fully serve pregnant patients, especially those who do not live near a major hospital. Alecia McGregor, a maternal health researcher at Harvard University, has studied the \u003ca class=\"Link\" href=\"https://www.healthaffairs.org/doi/10.1377/hlthaff.2024.01552\" target=\"_blank\" rel=\"noopener\">impact\u003c/a> of maternity ward closures across the U.S.\u003c/p>\n\u003cp>Her research found that patients who gave birth when their nearest labor and delivery unit closed had a higher risk of having complications during childbirth than those who gave birth at a hospital closer to home. McGregor argues that what family physicians can do to help pregnant patients is limited in addressing this disparity. “Just having a family medicine doctor available for prenatal care or outpatient care doesn’t solve the problem of not having a place available for a safe delivery,” she said.\u003c/p>\n\u003ch2 class=\"entry-title \">\u003ca href=\"https://calmatters.org/politics/2026/06/california-unions-billionaire-tax-ballot/\">\u003cstrong>A tax on billionaires qualifies for the November ballot\u003c/strong>\u003c/a>\u003c/h2>\n\u003cp class=\"wp-block-paragraph\">A union wants California’s billionaires to rescue the state’s healthcare system. The billionaires have other ideas.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">On June 17, an initiative to tax the state’s wealthiest residents qualified for the ballot, according to the secretary of state’s office, which verifies petition signatures.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">The \u003ca href=\"https://oag.ca.gov/system/files/initiatives/pdfs/25-0024A1%20%28Billionaire%20Tax%20%29.pdf\">proposed initiative\u003c/a> would levy a one-time 5% tax on California residents whose net worth exceeded $1 billion at the start of this year. The tax would hit roughly 200 people, and billionaires could pay in installments over five years. Proponents of the measure estimate it would generate $100 billion for the state. The revenue would go into a special fund with 90% reserved for healthcare spending and 10% for education and food assistance programs.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">Gov. Gavin Newsom, who has consistently swatted down the idea of tax increases throughout his tenure, emerged early as an \u003ca href=\"https://calmatters.org/politics/2026/01/billionaires-tax-health-funding/\">opponent of the proposed tax\u003c/a>. Wealthy allies in Silicon Valley joined the fray armed with deep pockets and threats to leave the state, which depends disproportionately on high earners for revenue.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">The union funding the measure, Service Employees International Union-United Healthcare Workers West, says California needs the revenue that would be generated by the measure to rescue the healthcare system from deep cuts that the Trump administration made last year in the president’s tax reform package. Newsom is \u003ca href=\"http://workona.com/redirect/#favIconUrl=https%3A%2F%2Fwww.nytimes.com%2Fvi-assets%2Fstatic-assets%2Fassets%2Ffavicon-dark-CovzF8uX.ico&title=Unlikely%20Coalition%20Begins%20Campaign%20Against%20Billionaire%20Tax%20in%20California%20-%20The%20New%20York%20Times&url=https%3A%2F%2Fwww.nytimes.com%2F2026%2F06%2F17%2Fus%2Fcalifornia-billionaire-tax-opponents.html%3Fpartner%3Dslack%26smid%3Dsl-share\">reportedly trying to negotiate\u003c/a> a last-minute deal that would pull the initiative before the ballot is finalized on June 25.\u003c/p>\n\u003ch2 class=\"ArticlePage-headline\">\u003ca href=\"https://laist.com/news/housing-homelessness/orange-county-california-low-income-housing-limit-six-figure-salary\">\u003cstrong>In Orange County, six-figure salaries now qualify as ‘low income’\u003c/strong>\u003c/a>\u003c/h2>\n\u003cp>In much of the country, a six-figure salary is a benchmark for success. That sixth digit tends to symbolize professional achievement and a degree of financial security.\u003c/p>\n\u003cp>But in Orange County, individuals earning up to $104,200 now qualify as “low income.” California’s Department of Housing and Community Development released its \u003ca class=\"Link\" href=\"https://www.hcd.ca.gov/funding/income-limits/state-federal-income-limits/state\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">\u003cu>official state income limits\u003c/u>\u003c/a> for 2026 on May 29. These thresholds determine who is eligible for income-restricted apartments and other housing assistance programs.\u003c/p>\n\u003cp>Under the new limits, one-person households in Orange County earning $104,200 per year or less qualify for low-income housing. Last year, the cut-off was $94,750. “It just feels so crazy to me,” said Megan Junanto, a 23-year-old actuary living in Irvine. She recently received a raise putting her above the low-income threshold. But last year, she would have qualified. “I felt like one of the most well off compared to people in my age group, and I am near low income, and last year I was low income.”\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>Housing policy experts say the ever-rising goalposts for financial stability make it hard for Orange County to retain teachers, nurses and other middle-income workers, who are needed to make a local economy function. Despite earning relatively high incomes, some young residents feel they need to give up on the idea of buying a home in Orange County.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cb>Here are the morning’s top stories on Thursday, June 18, 2026\u003c/b>\u003c/p>\n\u003cul>\n\u003cli style=\"font-weight: 400\">\u003cspan style=\"font-weight: 400\">Over the past decade, dozens of maternity wards have shut down across California, and that raises risks for pregnant patients. At \u003ca href=\"https://www.kazu.org/kazu-news/2026-06-08/family-medicine-doctors-help-provide-maternity-care-in-south-monterey-county\">one rural Monterey County hospital\u003c/a>, family medicine doctors are stepping in to help fill the gaps in service. \u003c/span>\u003c/li>\n\u003cli style=\"font-weight: 400\">\u003cspan style=\"font-weight: 400\">A controversial proposal to tax California billionaires has \u003ca href=\"https://calmatters.org/politics/2026/06/california-unions-billionaire-tax-ballot/\">qualified for the November ballot.\u003c/a> \u003c/span>\u003c/li>\n\u003cli style=\"font-weight: 400\">\u003cspan style=\"font-weight: 400\">In Orange County, \u003ca href=\"https://laist.com/news/housing-homelessness/orange-county-california-low-income-housing-limit-six-figure-salary\">workers earning six figures\u003c/a> can now qualify for low-income housing.\u003c/span>\u003c/li>\n\u003c/ul>\n\u003ch2>\u003ca href=\"https://www.kazu.org/kazu-news/2026-06-08/family-medicine-doctors-help-provide-maternity-care-in-south-monterey-county\">\u003cstrong>Monterey County patients get assistance with maternal care\u003c/strong>\u003c/a>\u003c/h2>\n\u003cp>Mee Memorial Hospital, the only hospital in southern Monterey County, serves a largely rural and farmworker population of about 80,000. It’s located in King City, a small town in the Salinas Valley. That’s where Dr. Ruth Pedraza sees about 25 patients a day. As a family medicine physician, she treats people of all ages, from babies to the elderly. And that pool includes some who are pregnant.\u003c/p>\n\u003cp>“We follow up with them after their regular screenings, but also see their child too (when they’re born),” Pedraza said. Mee Memorial hasn’t had a labor and delivery unit for six years. But since then, family medicine doctors like Pedraza, with additional training in obstetrics, have stepped in to help pregnant patients get prenatal care.\u003c/p>\n\u003cp>Babies in South Monterey County still have to be delivered about an hour away at major hospitals in Salinas. But during consultations, Pedraza makes sure expectant moms know that pre-natal testing, which helps prevent stillbirths, is also available at Mee Memorial. “I sometimes tell patients, ‘Why don’t we do (pre-natal testing) once here and once over there?'” she said. “They’re like, ‘I have no transportation.’ Great, we can do it here in the clinic.”\u003c/p>\n\u003cp>Pedraza did an obstetrics fellowship at the county’s public hospital, Natividad in Salinas, where she trained to do vaginal deliveries and C-sections, and to manage high-risk pregnancies. Natividad is one of the \u003ca class=\"Link\" href=\"https://www.abpsus.org/family-medicine-obstetrics-fellowship-programs/\" target=\"_blank\" rel=\"noopener\">seven\u003c/a> hospitals in California offering obstetrics fellowships to family medicine physicians. This level of care is important in rural areas, where hospitals like Mee Memorial have been hit hardest by financial challenges and staffing shortages.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003ca class=\"Link\" href=\"https://calhospital.org/wp-content/uploads/2025/02/CHA_Environmental-Scan_Maternity-Care_Final.pdf\" target=\"_blank\" rel=\"noopener\">Data\u003c/a> from the California Hospital Association show that more than 50 maternity care units have closed or been suspended over the last decade. Association president Carmela Coyle said hospitals have to think creatively about filling these gaps. This includes integrating other providers like family medicine physicians, into the labor and delivery team to lessen dependency on OB-GYN expertise. “Of course, OB-GYNs are central to the team, but can we think about how we can use our healthcare workforce more flexibly?” Coyle said.\u003c/p>\n\u003cp>But some experts say this doesn’t fully serve pregnant patients, especially those who do not live near a major hospital. Alecia McGregor, a maternal health researcher at Harvard University, has studied the \u003ca class=\"Link\" href=\"https://www.healthaffairs.org/doi/10.1377/hlthaff.2024.01552\" target=\"_blank\" rel=\"noopener\">impact\u003c/a> of maternity ward closures across the U.S.\u003c/p>\n\u003cp>Her research found that patients who gave birth when their nearest labor and delivery unit closed had a higher risk of having complications during childbirth than those who gave birth at a hospital closer to home. McGregor argues that what family physicians can do to help pregnant patients is limited in addressing this disparity. “Just having a family medicine doctor available for prenatal care or outpatient care doesn’t solve the problem of not having a place available for a safe delivery,” she said.\u003c/p>\n\u003ch2 class=\"entry-title \">\u003ca href=\"https://calmatters.org/politics/2026/06/california-unions-billionaire-tax-ballot/\">\u003cstrong>A tax on billionaires qualifies for the November ballot\u003c/strong>\u003c/a>\u003c/h2>\n\u003cp class=\"wp-block-paragraph\">A union wants California’s billionaires to rescue the state’s healthcare system. The billionaires have other ideas.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">On June 17, an initiative to tax the state’s wealthiest residents qualified for the ballot, according to the secretary of state’s office, which verifies petition signatures.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">The \u003ca href=\"https://oag.ca.gov/system/files/initiatives/pdfs/25-0024A1%20%28Billionaire%20Tax%20%29.pdf\">proposed initiative\u003c/a> would levy a one-time 5% tax on California residents whose net worth exceeded $1 billion at the start of this year. The tax would hit roughly 200 people, and billionaires could pay in installments over five years. Proponents of the measure estimate it would generate $100 billion for the state. The revenue would go into a special fund with 90% reserved for healthcare spending and 10% for education and food assistance programs.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">Gov. Gavin Newsom, who has consistently swatted down the idea of tax increases throughout his tenure, emerged early as an \u003ca href=\"https://calmatters.org/politics/2026/01/billionaires-tax-health-funding/\">opponent of the proposed tax\u003c/a>. Wealthy allies in Silicon Valley joined the fray armed with deep pockets and threats to leave the state, which depends disproportionately on high earners for revenue.\u003c/p>\n\u003cp class=\"wp-block-paragraph\">The union funding the measure, Service Employees International Union-United Healthcare Workers West, says California needs the revenue that would be generated by the measure to rescue the healthcare system from deep cuts that the Trump administration made last year in the president’s tax reform package. Newsom is \u003ca href=\"http://workona.com/redirect/#favIconUrl=https%3A%2F%2Fwww.nytimes.com%2Fvi-assets%2Fstatic-assets%2Fassets%2Ffavicon-dark-CovzF8uX.ico&title=Unlikely%20Coalition%20Begins%20Campaign%20Against%20Billionaire%20Tax%20in%20California%20-%20The%20New%20York%20Times&url=https%3A%2F%2Fwww.nytimes.com%2F2026%2F06%2F17%2Fus%2Fcalifornia-billionaire-tax-opponents.html%3Fpartner%3Dslack%26smid%3Dsl-share\">reportedly trying to negotiate\u003c/a> a last-minute deal that would pull the initiative before the ballot is finalized on June 25.\u003c/p>\n\u003ch2 class=\"ArticlePage-headline\">\u003ca href=\"https://laist.com/news/housing-homelessness/orange-county-california-low-income-housing-limit-six-figure-salary\">\u003cstrong>In Orange County, six-figure salaries now qualify as ‘low income’\u003c/strong>\u003c/a>\u003c/h2>\n\u003cp>In much of the country, a six-figure salary is a benchmark for success. That sixth digit tends to symbolize professional achievement and a degree of financial security.\u003c/p>\n\u003cp>But in Orange County, individuals earning up to $104,200 now qualify as “low income.” California’s Department of Housing and Community Development released its \u003ca class=\"Link\" href=\"https://www.hcd.ca.gov/funding/income-limits/state-federal-income-limits/state\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">\u003cu>official state income limits\u003c/u>\u003c/a> for 2026 on May 29. These thresholds determine who is eligible for income-restricted apartments and other housing assistance programs.\u003c/p>\n\u003cp>Under the new limits, one-person households in Orange County earning $104,200 per year or less qualify for low-income housing. Last year, the cut-off was $94,750. “It just feels so crazy to me,” said Megan Junanto, a 23-year-old actuary living in Irvine. She recently received a raise putting her above the low-income threshold. But last year, she would have qualified. “I felt like one of the most well off compared to people in my age group, and I am near low income, and last year I was low income.”\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"info": "What kind of no sabo word is Hyphenación? For us, it’s about living within a hyphenation. Like being a third-gen Mexican-American from the Texas border now living that Bay Area Chicano life. Like Xorje! Each week we bring together a couple of hyphenated Latinos to talk all about personal life choices: family, careers, relationships, belonging … everything is on the table. ",
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"info": "The Political Mind of Jerry Brown brings listeners the wisdom of the former Governor, Mayor, and presidential candidate. Scott Shafer interviewed Brown for more than 40 hours, covering the former governor's life and half-century in the political game – and Brown has some lessons he'd like to share. ",
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"marketplace": {
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"info": "Our flagship program, helmed by Kai Ryssdal, examines what the day in money delivered, through stories, conversations, newsworthy numbers and more. Updated Monday through Friday at about 3:30 p.m. PT.",
"airtime": "MON-FRI 4pm-4:30pm, MON-WED 6:30pm-7pm",
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"mindshift": {
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"info": "The MindShift podcast explores the innovations in education that are shaping how kids learn. Hosts Ki Sung and Katrina Schwartz introduce listeners to educators, researchers, parents and students who are developing effective ways to improve how kids learn. We cover topics like how fed-up administrators are developing surprising tactics to deal with classroom disruptions; how listening to podcasts are helping kids develop reading skills; the consequences of overparenting; and why interdisciplinary learning can engage students on all ends of the traditional achievement spectrum. This podcast is part of the MindShift education site, a division of KQED News. KQED is an NPR/PBS member station based in San Francisco. You can also visit the MindShift website for episodes and supplemental blog posts or tweet us \u003ca href=\"https://twitter.com/MindShiftKQED\">@MindShiftKQED\u003c/a> or visit us at \u003ca href=\"/mindshift\">MindShift.KQED.org\u003c/a>",
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"order": 12
},
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM1NzY0NjAwNDI5",
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"info": "\u003cem>Morning Edition\u003c/em> takes listeners around the country and the world with multi-faceted stories and commentaries every weekday. Hosts Steve Inskeep, David Greene and Rachel Martin bring you the latest breaking news and features to prepare you for the day.",
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"onourwatch": {
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"tagline": "Deeply-reported investigative journalism",
"info": "For decades, the process for how police police themselves has been inconsistent – if not opaque. In some states, like California, these proceedings were completely hidden. After a new police transparency law unsealed scores of internal affairs files, our reporters set out to examine these cases and the shadow world of police discipline. On Our Watch brings listeners into the rooms where officers are questioned and witnesses are interrogated to find out who this system is really protecting. Is it the officers, or the public they've sworn to serve?",
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"perspectives": {
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"planet-money": {
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"info": "The economy explained. Imagine you could call up a friend and say, Meet me at the bar and tell me what's going on with the economy. Now imagine that's actually a fun evening.",
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"title": "Political Breakdown",
"tagline": "Politics from a personal perspective",
"info": "Political Breakdown is a new series that explores the political intersection of California and the nation. Each week hosts Scott Shafer and Marisa Lagos are joined with a new special guest to unpack politics -- with personality — and offer an insider’s glimpse at how politics happens.",
"airtime": "THU 6:30pm-7pm",
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"possible": {
"id": "possible",
"title": "Possible",
"info": "Possible is hosted by entrepreneur Reid Hoffman and writer Aria Finger. Together in Possible, Hoffman and Finger lead enlightening discussions about building a brighter collective future. The show features interviews with visionary guests like Trevor Noah, Sam Altman and Janette Sadik-Khan. Possible paints an optimistic portrait of the world we can create through science, policy, business, art and our shared humanity. It asks: What if everything goes right for once? How can we get there? Each episode also includes a short fiction story generated by advanced AI GPT-4, serving as a thought-provoking springboard to speculate how humanity could leverage technology for good.",
"airtime": "SUN 2pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Possible-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.possible.fm/",
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"source": "Possible"
},
"link": "/radio/program/possible",
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},
"pri-the-world": {
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"title": "PRI's The World: Latest Edition",
"info": "Each weekday, host Marco Werman and his team of producers bring you the world's most interesting stories in an hour of radio that reminds us just how small our planet really is.",
"airtime": "MON-FRI 2pm-3pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/The-World-Podcast-Tile-360x360-1.jpg",
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},
"radiolab": {
"id": "radiolab",
"title": "Radiolab",
"info": "A two-time Peabody Award-winner, Radiolab is an investigation told through sounds and stories, and centered around one big idea. In the Radiolab world, information sounds like music and science and culture collide. Hosted by Jad Abumrad and Robert Krulwich, the show is designed for listeners who demand skepticism, but appreciate wonder. WNYC Studios is the producer of other leading podcasts including Freakonomics Radio, Death, Sex & Money, On the Media and many more.",
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},
"reveal": {
"id": "reveal",
"title": "Reveal",
"info": "Created by The Center for Investigative Reporting and PRX, Reveal is public radios first one-hour weekly radio show and podcast dedicated to investigative reporting. Credible, fact based and without a partisan agenda, Reveal combines the power and artistry of driveway moment storytelling with data-rich reporting on critically important issues. The result is stories that inform and inspire, arming our listeners with information to right injustices, hold the powerful accountable and improve lives.Reveal is hosted by Al Letson and showcases the award-winning work of CIR and newsrooms large and small across the nation. In a radio and podcast market crowded with choices, Reveal focuses on important and often surprising stories that illuminate the world for our listeners.",
"airtime": "SAT 4pm-5pm",
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"officialWebsiteLink": "https://www.revealnews.org/episodes/",
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},
"link": "/radio/program/reveal",
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"rss": "http://feeds.revealradio.org/revealpodcast"
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