Sacramento, CA — California voters are tentatively tasked to decide the fate of a ballot measure that would place a one-time tax on billionaire assets.
The proposal backed by the healthcare union SEIU-UHW, which would levy a 5% tax to offset federal cuts to healthcare, has qualified for the November ballot, according to the California Secretary of State.
It is opposed by many state Republican leaders and some Democrats (including Governor Gavin Newsom). It is backed by proponents like Vermont Senator Bernie Sanders. There is still a chance it may not go before voters. Proponents could agree to pull it from the ballot before a late June deadline as part of a deal being crafted with lawmakers and Governor Newsom. Many business groups and Silicon Valley leaders argue that it would drive away business from the state. It is also opposed by some other unions and healthcare groups. Proponents counter that the measure is critical in supporting healthcare services hurt by federal cuts.
