California Billionaire Tax Proposal Sparks Labor and Democratic Divisions
Dave Regan, leader of SEIU-UHW representing over 120,000 California healthcare workers, is proposing a one-time 5% tax on the assets of the state's billionaires. This measure, aimed at preventing Medi-Cal cuts, is set to appear on the November ballot and…
San Francisco Oakland San Jose, CA, July 30, 2026 —
A proposed one-time 5% tax on the assets of California’s billionaires, championed by SEIU-UHW leader Dave Regan, is slated to appear on the November ballot. The initiative, which aims to generate revenue to prevent cuts to Medi-Cal, has created rifts within both the labor movement and the Democratic party.
Dave Regan, who represents over 120,000 healthcare workers in California through SEIU-UHW, is spearheading the effort. The proposed tax targets the accumulated wealth of the state’s wealthiest individuals, with the stated goal of securing funding for essential public services.
The measure’s path to the ballot and its implications have not been without controversy. Divisions have emerged among various labor organizations and factions within the Democratic party regarding the potential economic impact and political strategy behind the proposal.
In parallel with the ballot initiative’s progression, Regan has reportedly engaged in discussions with Governor Gavin Newsom. These negotiations may explore the possibility of withdrawing the measure from the ballot, though details of these talks were not immediately available.
The outcome of these negotiations and the public’s reception of the billionaire tax proposal are expected to have significant implications for California’s fiscal future and its political landscape.
Story summarized from the original created by Izzy Bloom on ww2.kqed.org, see more information here.
