General Discussion

California Billionaire Tax Act

A statewide ballot initiative to enact an emergency tax on billionaires to save California’s healthcare system from collapse

Massive cuts to federal healthcare funding are driving California towards a healthcare collapse. The federal funding cuts will strip roughly $100 billion from California healthcare over the next five years, leading to:

Short-staffed shifts: Skeleton crews left on the front lines as 145,000 healthcare jobs disappear
Higher costs and lost coverage: Insurance premiums go up for everyone, and millions of Californians lose coverage altogether.
Facility closures and reduced services: Hospitals, clinics, nursing homes, and home care will be forced to reduce services or close down.

Our solution: The California Billionaire Tax Act

We’re calling on California’s billionaires to step up and pay a one-time, emergency 5% tax to prevent the collapse of California healthcare and help fund California public K-14 education and state food assistance programs. This would protect healthcare jobs and ensure working people and families can get the care they need. The tax would be paid only by Californians worth more than $1 billion — which is about 200 people who hold a combined wealth of $2 trillion.

https://www.seiu-uhw.org/ca-billionaire-tax-act/