The California Democratic Party on Sunday endorsed a state ballot measure that would impose a one-time, 5% wealth tax on billionaire residents, a popular initiative that has drawn opposition from Democratic Gov. Gavin Newsom and ultra-rich corporate executives who are spending big to defeat it.
California Democrats’ executive board voted 145-90 on Sunday to endorse the billionaire wealth tax, which will appear on the November ballot as Proposition 40. The Sacramento Bee reported that “delegates and observers erupted into cheers” following the vote, which barely cleared the 60% threshold needed for a formal endorsement.
Dave Regan, president of SEIU-United Healthcare Workers West, the union leading the campaign for the ballot initiative, said the California Democratic Party’s endorsement of the proposal “puts to rest the idea that California Democrats are not united by the billionaire tax—they are.”
“Polling shows that more than 80% of registered Democrats support this critical solution to our healthcare crisis,” said Regan, "and now the Democratic Party of California has officially embraced that strong support through this endorsement.”
It’s official: the California Democratic Party has endorsed the Prop. 40 billionaire tax on 145-90 vote. They reconsidered an earlier vote where it narrowly failed to clear the 60% threshold. pic.twitter.com/5YnH3Ps7mE
— Ben Paviour (@BPaves) August 2, 2026
If approved by voters and enacted, the tax would raise an estimated $100 billion in revenue that could be used to offset the impact of federal Medicaid cuts and bolster California’s education system.
Organizers said Sunday that the endorsement “puts major momentum behind” the proposed billionaire tax, noting that official California Democratic Party election materials will now note its backing of Proposition 40.
Suzanne Jimenez, chief of staff at SEIU-United Healthcare Workers West, said Sunday that “we refuse to accept a future where tens of millions of working families pay the price for tax cuts that benefit 200 billionaires.”
“We are proud to stand alongside California Democrats in fighting for passage of the billionaire tax,” said Jimenez. “We will work together to put patients first. We will ask those who have gained the most from our economy to help preserve the healthcare access, including to emergency services, that every Californian needs and deserves.”
The endorsement from the California Democratic Party came after a coalition of billionaires backed by Google co-founder Sergey Brin reserved nearly $90 million in advertising time across the state and got two other tax-related initiatives on the November ballot: Propositions 41 and 42.
If the billionaire tax measure passes and either 41 or 42 also pass, Proposition 40 “could be stopped from becoming law,” according to California’s nonpartisan Legislative Analyst’s Office (LAO).
“This is because the courts could find that Proposition 41 or 42 conflict with Proposition 40,” the LAO noted.
From Common Dreams via This RSS Feed.