5 Things to Know About California's New Billionaire Tax Measure ^17.7%

KQED - By Kristen Hwang, CalMatters - 6/18/2026, 11:47 PM

Negativity Bias 22% - Pessimism Bias 14.9% - Framing Effect 11.6%

A union wants California’s billionaires to rescue the state’s healthcare system. The billionaires have other ideas. On June 17, an initiative to tax the state's wealthiest residents qualified for the ballot, according to the secretary of state’s office, which verifies petition signatures. Gov. Gavin Newsom, who has consistently swatted... more