Controversial billionaire tax will appear on November ballot
Key takeaways
- Proponents of a tax on California billionaires vowed on Thursday to move forward with their November ballot measure despite mounting opposition from many of the state’s most powerful political forces.
- A labor union spent $31 million gathering signatures to qualify the measure for the ballot in an effort to offset federal healthcare funding cuts that will affect millions of California’s most vulnerable residents.
- The California secretary of state is expected to officially certify the measure for the Nov. 3 ballot on Thursday evening.
Attendees wear “Billionaire Tax Now” shirts during a February campaign kickoff event for the California Billionaire Tax Act at The Wiltern in Los Angeles. A labor union has proposed imposing a one-time 5% tax on billionaire’s assets to backfill federal healthcare funding cuts. (Bloomberg/Bloomberg via Getty Images) By Seema Mehta Staff Writer Follow June 25, 2026 5:57 PM PT 8 min Click here to listen to this article Share via Close extra sharing options Email Facebook X Linked In Threads Reddit WhatsApp Copy Link URL Copied! Print 0:00 0:00 1x This is read by an automated voice. Please report any issues or inconsistencies here.
See more from the L.A. Times in Google Search. Set us as preferred
Proponents of a tax on California billionaires vowed on Thursday to move forward with their November ballot measure despite mounting opposition from many of the state’s most powerful political forces.