What Lies Beneath California’s Billionaire Tax Initiative?
The ballot initiative, titled the “2026 Billionaire Tax Act,” can be found here . Background In response to federal cuts to Medicaid and food assistance programs, SEIU United Healthcare Workers West filed a ballot initiative with the California Attorney General titled the 2026 Billionaire Tax Act . The initiative must gather 875,000 signatures by April to eventually be included on the November ballot. The ballot initiative seeks to impose a 5% tax on the total net worth (excluding real...