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Tech Titans Unite Against California's Billionaire Tax Act

2/19/2026

Summary

Story summary

Rep. Kevin Kiley (R-CA) opposes California's proposed Billionaire Tax Act, arguing it targets former residents.
The Keep Jobs in California Act of 2026 would prevent retroactive taxation on residents who left.
Kiley contends the tax will worsen unemployment by driving out job creators Mark Zuckerberg and Larry Ellison.
Tech leaders, including Sergey Brin, Alphabet cofounder, are launching initiatives and raising $35 million to oppose retroactive taxation and taxes on assets.

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Story summary

Rep. Kevin Kiley (R-CA) opposes California's proposed Billionaire Tax Act, arguing it targets former residents.
The Keep Jobs in California Act of 2026 would prevent retroactive taxation on residents who left.
Kiley contends the tax will worsen unemployment by driving out job creators Mark Zuckerberg and Larry Ellison.
Tech leaders, including Sergey Brin, Alphabet cofounder, are launching initiatives and raising $35 million to oppose retroactive taxation and taxes on assets.