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Steyer Promises 1 Million Homes, 25% Power Cut, Oil Tax

5/31/2026

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Summary

Story summary

Tom Steyer, candidate for California governor, held a briefing with media on May 26, 2026, saying corporate special interests drive California’s cost crisis and that his self-funded campaign will let him fight them.
He pledged one million affordable homes, a 25% electricity rate cut, and a windfall tax on oil firms to return revenue to Californians.
He cited founding Beneficial State Bank and selling a private-prison investment as a mistake.

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Story summary

Tom Steyer, candidate for California governor, held a briefing with media on May 26, 2026, saying corporate special interests drive California’s cost crisis and that his self-funded campaign will let him fight them.
He pledged one million affordable homes, a 25% electricity rate cut, and a windfall tax on oil firms to return revenue to Californians.
He cited founding Beneficial State Bank and selling a private-prison investment as a mistake.