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Tech Billionaires Spend $100M on CA Primary, Tax Ballot Looms

6/4/2026

31 6 Full Breakdown

Left

Tech Billionaires Fund Politics

Tech billionaires poured over $100 million into California’s June primary, funding candidates and ballot measures to shape regulatory policy.
Los Angeles County placed a half-cent sales-tax increase on the June ballot to offset expected Medicaid cuts.
Supervisor Kathryn Barger warns the tax could burden low-income residents lacking earmarked spending.
California’s gas tax increased by 2.2 cents per gallon on July 1, pushing pump price toward $6.

Right

Real Estate Urges

Real-estate firms placed billboards across Los Angeles urging residents to move to Florida over taxes and a billionaire wealth tax.
Los Angeles County placed a half-cent sales-tax increase on the June ballot to offset expected Medicaid funding cuts.
County officials attribute the loss of 54,000 residents this year to rising taxes and costs.
San Diego County’s short-term rental tax may lose about $10 million annually from owner evasion.

History

Historical Context

Proposition 13, approved on June 6 1978, capped property taxes at 1 % and cut local revenue by about 60 % the following year, forcing governments to lean on sales taxes. The measure follows decades of fiscal strain traced to the 1978 tax cap. Los Angeles County Supervisor Kathryn Barger now defends a half-cent sales-tax hike, while tech billionaires have pledged $100 million to the June 2024 county ballot.

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Tech Billionaires Fund Politics

Tech billionaires poured over $100 million into California’s June primary, funding candidates and ballot measures to shape regulatory policy.
Los Angeles County placed a half-cent sales-tax increase on the June ballot to offset expected Medicaid cuts.
Supervisor Kathryn Barger warns the tax could burden low-income residents lacking earmarked spending.
California’s gas tax increased by 2.2 cents per gallon on July 1, pushing pump price toward $6.

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