Californians will vote in November on three related measures centered on a proposed “billionaire tax.”
The original measure, backed by SEIU-United Healthcare Workers West, would impose a one-time wealth tax on California billionaires—with a 5% rate for those worth $1.1 billion or more. Supporters say it could raise $100 billion over five years, with 90% going to health care and the rest to education and food assistance.
