Story perspectives

Billionaire Tax Qualifies for California Ballot, 1.5 M Signatures

4/28/2026

Summary

Story summary

The coalition submitted 1.5 million signatures, exceeding the 875,000 needed to qualify the California Billionaire Tax Act for the ballot.
A UC Berkeley poll shows roughly two-to-one voter approval for the billionaire wealth tax.
Proponents say a one-time 5 % tax on billionaires would raise $100 billion over five years for hospitals, food assistance and public schools.
Democratic Governor Gavin Newsom opposes the tax.
Independent Senator Bernie Sanders endorses the measure.

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Story summary

The coalition submitted 1.5 million signatures, exceeding the 875,000 needed to qualify the California Billionaire Tax Act for the ballot.
A UC Berkeley poll shows roughly two-to-one voter approval for the billionaire wealth tax.
Proponents say a one-time 5 % tax on billionaires would raise $100 billion over five years for hospitals, food assistance and public schools.
Democratic Governor Gavin Newsom opposes the tax.
Independent Senator Bernie Sanders endorses the measure.