Coalition takes key steps toward passing commonsense measure that will keep local emergency rooms open, feed families, and support schools through one-time tax on billionaires
CALIFORNIA – The Billionaire Tax Now campaign has taken key steps toward winning the funds to counteract massive federal healthcare funding cuts that will push key parts of the California healthcare system to the brink of collapse, or worse. The campaign has surpassed its goal of recruiting 5,000 volunteers and has hit its 25% signature threshold, signifying growing momentum behind the movement for billionaires to chip in to keep local hospitals and ERs open. California requires ballot campaigns to disclose to the Secretary of State when it hits the 25% milestone, which the campaign has now done.
“Voters are united and enthusiastic to prevent the closures of hospitals and emergency rooms that will inevitably occur if billionaires don’t pay their fair share through this one-time 5% tax,” said Suzanne Jimenez, Chief of Staff at Service Employees International Union-United Healthcare Workers West (SEIU-UHW), lead sponsor of the billionaire tax. “Our volunteers and canvassers have seen tremendous enthusiasm among voters to sign this petition. Washington D.C. created a crisis for millions of California residents and businesses through $100 billion in Medi-Cal cuts, but California voters are clearly ready to solve that crisis this November through a modest tax on billionaires.”
Building on the powerful momentum from the coalition’s recent rally with U.S. Senator Bernie Sanders, along with a growing wave of endorsements, the campaign for the California Billionaire Tax is surging at exactly the right moment.
The commonsense measure is designed to ensure that billionaires pay their fair share to stabilize and protect the state’s vast healthcare system, including hospitals, nursing homes, community health centers, and home care services.
“This campaign is about saving our hospitals, protecting local clinics, and making sure millions of Californians don’t lose access to the healthcare they depend on. The signatures we collected send a clear message: Californians won’t stand by while essential care is put at risk,” said Matt Schlegel of Palo Alto, a volunteer collecting signatures with the Billionaire Tax Now campaign.
Supporters of the Billionaire Tax note how successful other wealth taxes have been in states across the country. Measures such as the Massachusetts Fair Share Amendment and Washington State’s capital gains tax have generated billions in new revenue for public services, and the number of high-income residents AND their cumulative wealth in both states have increased since the policies went into effect.
In addition, tax experts have underscored that what makes the billionaire tax unique is how it’s designed to be fair and enforceable — so billionaires can’t avoid responsibility by moving their assets or claiming residency elsewhere after the now-passed January 1, 2026 deadline for residency changes.
The Billionaire Tax ballot measure will give Californians the opportunity to vote “yes” to save their healthcare, with 90% of funds raised going toward stabilizing the state’s healthcare system and protecting healthcare for all Californians, and 10% funding food aid and supporting K-14 public education.CALIFORNIA – The Billionaire Tax Now campaign has taken key steps toward winning the funds to counteract massive federal healthcare funding cuts that will push key parts of the California healthcare system to the brink of collapse, or worse. The campaign has surpassed its goal of recruiting 5,000 volunteers and has hit its 25% signature threshold, signifying growing momentum behind the movement for billionaires to chip in to keep local hospitals and ERs open. California requires ballot campaigns to disclose to the Secretary of State when it hits the 25% milestone, which the campaign has now done.
“Voters are united and enthusiastic to prevent the closures of hospitals and emergency rooms that will inevitably occur if billionaires don’t pay their fair share through this one-time 5% tax,” said Suzanne Jimenez, Chief of Staff at Service Employees International Union-United Healthcare Workers West (SEIU-UHW), lead sponsor of the billionaire tax. “Our volunteers and canvassers have seen tremendous enthusiasm among voters to sign this petition. Washington D.C. created a crisis for millions of California residents and businesses through $100 billion in Medi-Cal cuts, but California voters are clearly ready to solve that crisis this November through a modest tax on billionaires.”
Building on the powerful momentum from the coalition’s recent rally with U.S. Senator Bernie Sanders, along with a growing wave of endorsements, the campaign for the California Billionaire Tax is surging at exactly the right moment.
The commonsense measure is designed to ensure that billionaires pay their fair share to stabilize and protect the state’s vast healthcare system, including hospitals, nursing homes, community health centers, and home care services.
“This campaign is about saving our hospitals, protecting local clinics, and making sure millions of Californians don’t lose access to the healthcare they depend on. The signatures we collected send a clear message: Californians won’t stand by while essential care is put at risk,” said Matt Schlegel of Palo Alto, a volunteer collecting signatures with the Billionaire Tax Now campaign.
Supporters of the Billionaire Tax note how successful other wealth taxes have been in states across the country. Measures such as the Massachusetts Fair Share Amendment and Washington State’s capital gains tax have generated billions in new revenue for public services, and the number of high-income residents AND their cumulative wealth in both states have increased since the policies went into effect.
In addition, tax experts have underscored that what makes the billionaire tax unique is how it’s designed to be fair and enforceable — so billionaires can’t avoid responsibility by moving their assets or claiming residency elsewhere after the now-passed January 1, 2026 deadline for residency changes.
The Billionaire Tax ballot measure will give Californians the opportunity to vote “yes” to save their healthcare, with 90% of funds raised going toward stabilizing the state’s healthcare system and protecting healthcare for all Californians, and 10% funding food aid and supporting K-14 public education.
Impact of federal healthcare cuts
- Dozens of hospitals and ERs could close; dozens more will be forced to cut back services and lay off healthcare workers. The patient care crisis will worsen as patients are forced to wait longer and drive further for medical care.
- Up to 3.4 million Californians could lose their healthcare coverage under Medicaid, including many seniors, children, veterans, and people with disabilities.
- The state could lose about $30 billion in federal healthcare funding every year — destabilizing the health care system and driving up health care costs for everyone.
- Insurance premiums for Californians who purchase Affordable Care Act plans could rise as much as 97%, and an estimated 400,000 Californians could be priced out of healthcare altogether.
Impact of food assistance cuts
- Currently, 5.5 million Californians benefit from food aid. 3.5 million are senior citizens and children.
- At least 754,000 people could lose their entire monthly benefit, with over 3 million households facing reductions.
- The estimated funding loss is $2.5 to $4.5 billion annually.
- The SNAP/Cal-Fresh cuts, if not backfilled by other funding mechanisms, are expected to cost California approximately 400,000 jobs over the next nine years.
About the California Billionaire Tax Act
The California Billionaire Tax Act proposes a one-time emergency tax on the wealth of the state’s ultra-high-net-worth individuals to safeguard Medi-Cal, keep hospitals and emergency rooms open, expand food assistance, and support public education. The initiative is a direct response to federal healthcare cuts under HR1 that threaten healthcare access and economic stability for millions of Californians.
| Paid for by Save California Health Care and Public Education, Sponsored by Service Employees International Union – United Healthcare Workers West. Committee’s Top Funder Service Employees International Union – United Healthcare Workers West |
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