Story perspectives

Steyer Proposes Proposition 13 Overhaul Amid Poll Struggles

2/20/2026

Summary

Story summary

Tom Steyer, a California gubernatorial candidate, plans a 2027 special election to modify Proposition 13 and reassess commercial properties at market value.
Labor unions back the proposal to raise corporate taxes to fund schools and local governments.
Critics say the plan could drive businesses out of California and cause economic harm.
Polls show Tom Steyer trailing Democratic frontrunners Eric Swalwell (D-Calif.) and Katie Porter (D-Calif.), with 9% support among likely voters.

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Story summary

Tom Steyer, a California gubernatorial candidate, plans a 2027 special election to modify Proposition 13 and reassess commercial properties at market value.
Labor unions back the proposal to raise corporate taxes to fund schools and local governments.
Critics say the plan could drive businesses out of California and cause economic harm.
Polls show Tom Steyer trailing Democratic frontrunners Eric Swalwell (D-Calif.) and Katie Porter (D-Calif.), with 9% support among likely voters.