OVER ONE MILLION MEMBERS STRONG ACROSS CALIFORNIA, PROGRESSIVE POWERHOUSE OUR REVOLUTION ENDORSES COMMONSENSE MEASURE THAT WILL PREVENT HOSPITAL CLOSURES THROUGH ONE-TIME TAX ON BILLIONAIRES
LOS ANGELES, CA – California’s billionaires pay much lower tax rates than what working families pay out of every paycheck. And soon, massive federal healthcare funding cuts will push key parts of the California healthcare system to the brink of collapse, or worse. Local hospitals and emergency rooms could shut their doors forever because billionaires insist on paying less than the rest of us. Now, more than a million Our Revolution members in California are entering the battle to save the state from these dire consequences – and to ensure billionaires pay their fair share.
“California is home to more billionaires than any place on earth, yet our hospitals are closing, our ERs are overwhelmed, and families are paying more every year for healthcare. If we don’t pass the Billionaire Tax, the bill for this crisis will land on us,” said Our Revolution California Organizer Susana Williams. “We’re already seeing how quickly hospital closures and medical expenses can spiral, and without action, it will only get worse. Protecting billionaires at the expense of working people is a tradeoff we refuse to accept,” Susana said.
As federal healthcare cuts from HR1 begin to rip healthcare away from millions of Californians, progressive leader Our Revolution is joining a growing list of organizations and lawmakers supporting a one-time 5% emergency tax on the state’s roughly 200 billionaires as a direct response. The commonsense measure is designed to ensure that billionaires pay their fair share to stabilize and protect the state’s vast healthcare infrastructure, including California 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.
“Time and again, billionaire CEOs get sweetheart deals and the rest of us are forced to pay for them. Not anymore!” said Our Revolution Executive Director Joseph Geevarghese. “Working class families are already contributing our fair share. Now it’s time for billionaires to prevent widespread hospital closures by doing the same.”
“Across California, millions of people could soon face the devastating reality of losing access to their local hospital, emergency room, or even their health coverage,” said Suzanne Jimenez, Chief of Staff at SEIU United Healthcare Workers West (SEIU-UHW), lead sponsor of the ballot measure. “This proposal is about keeping hospitals and ERs operating and preventing working families from being forced to shoulder the burden of $100 billion in healthcare cuts. At a time when the cost of care, food, and housing continues to climb, we’re grateful that Our Revolution is stepping up to help advance the billionaire tax and stand with families across our state.”
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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