Senator Murphy endorses commonsense measure that will keep local hospitals and ERs open, increase food security, and help fund public education through one-time tax on billionaires
On Saturday, Senator will stand with frontline healthcare workers as they collect signatures to bring billionaire tax to the ballot
CALIFORNIA – California’s billionaires pay taxes at far lower rates than working families do out of each paycheck. And soon, massive federal funding cuts will push key parts of the California healthcare system to the brink of collapse. Local hospitals and emergency rooms will shut their doors forever because billionaires insist on paying less than the rest of us.
Now, U.S. Senator Chris Murphy (D-CT), who fought against the massive tax giveaways to billionaires in HR1, is endorsing the California Billionaire Tax Act to prevent hospital closures and ensure billionaires pay their fair share.
“The Trump administration and congressional Republicans caused a health care cataclysm when they gutted Medicaid and the ACA so they could give a new, giant tax cut to billionaires and corporations,” said U.S. Senator Chris Murphy (D-CT). “I’m proud to stand with health care workers who know just how devastating these cuts have been and are fighting to protect their patients and communities by passing the California Billionaire Tax.”
On Saturday, Senator Murphy will hear from frontline healthcare workers who are supporting the commonsense proposal, and he’ll stand with them as they collect petition signatures to qualify the measure for the November ballot.
As federal healthcare cuts from HR1 begin to rip healthcare away from millions of Californians, Senator Murphy joins a growing list of public figures supporting a one-time 5% emergency tax on the state’s roughly 200 billionaires in direct response to the massive cuts. The initiative 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.
Without revenue from the California Billionaire Tax, federal healthcare cuts will force hospitals and ERs to close. Healthcare costs will increase, and insurance premiums will skyrocket. All Californians will feel the effects of these cuts, but they will hit seniors, children, veterans, and people with disabilities especially hard.
“As a frontline healthcare worker here in California, I see patients already waiting in our emergency room for hours or even overnight as a result of staffing cuts,” said Seema Kanani, a medical social worker in Milpitas, California. “I’m grateful to Senator Murphy for standing with Californians and supporting the California Billionaire Tax. This proposal is about protecting our hospitals, our patients, and our communities. We have to fight for them.”
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 will 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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