California billionaire tax has enough signatures for ballot, backers say

Source: The Hill

04/27/26 12:10 PM ET


Advocates for a proposed California billionaire tax said on Sunday they received enough signatures for the measure to appear on the ballot in November.

Supporters say 1.6 million people have submitted signatures favoring the Billionaire Tax Act for approval, according to the Los Angeles Times. State law requires at least 874,641 registered voters to provide signatures to county elections officials by June 24, per the outlet.

Once received, officials have to count and verify the signatures and send them to California’s secretary of state before the measure can appear on the November ballot. The proposal outlines a one-time tax for the state’s 200 billionaires with a 5 percent levy on their net worth as a means to bring funding back to healthcare programs meant for middle-class and low-income Californians.

“Most Californians and most billionaires recognize how reasonable and necessary this proposal is — both to keep emergency rooms open and to save California businesses from closing,” Suzanne Jimenez, the chief of staff of the Service Employees International Union-United Healthcare Workers West, one of the groups backing the bill told the LA Times.

Read more: https://thehill.com/homenews/state-watch/5850928-billionaire-tax-act-california/