Californians will vote in November on a controversial proposal to impose a one-time tax on billionaires to help fund federal funding cuts to healthcare for low-income people.

Californians will vote in November on a controversial proposal to impose a one-time tax on billionaires to help fund federal funding cuts to healthcare for low-income people.

California's 2026 Billionaire Tax sounds simple — but experts warn the ripple effects could cost non-billionaires via lost revenues, higher taxes, & corporate departures.

The ballot measure will decide if California will impose a one-time 5% tax on its billionaire residents, an idea that has been controversial.