California billionaire wealth tax clears path to November ballot after signature surge
TL;DR
Advocates say they’ve collected about 1.6 million signatures—roughly double the 875,000 required—to qualify a one-time 5% tax on assets over $1 billion for California’s November ballot. The revenue would fund healthcare programs (about 90%), with the rest for food assistance and education, to offset anticipated federal cuts. Opponents warn the tax could hurt the economy and drive wealthy residents away, while the measure splits Democrats—Gov. Newsom opposes it, Bernie Sanders supports it.
- Billionaire-tax backers say they have enough signatures — times two — to qualify for ballot Los Angeles Times
- California Billionaire Tax Has Signatures Needed for Ballot, Backers Say The New York Times
- California billionaire tax proposal garners enough signatures to head to ballot The Guardian
- California Billionaires Tax Scores Enough Signatures For Ballot, Organizers Say Forbes
- Taxing Ownership – John O. McGinnis Law & Liberty
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