California’s controversial billionaire tax measure appears to be on its way to the November ballot — and Florida Gov. Ron DeSantis (R) is warning voters in the Golden State that the widely-panned wealth tax plan may end with the ultra-rich.
The measure — championed by the Service Employees International Union-United Healthcare Workers West (SEIU-UHW) — would levy a one-time 5% tax on the state’s ultra-rich whose assets exceed $1 billion.
It secured enough signatures and is qualified to appear on the November ballot, the California Secretary of State announced Thursday.
Polls have shown that over 50% of the state’s voters have embraced the idea of making billionaires pay up, and the Florida governor in a statement on X seemed to expect passage.
“If and when this passes, it will not be limited to billionaires,” DeSantis warned.
“Once the camel’s nose is under the tent and government is empowered to confiscate property it will do so,” he added.
He seemed to allude to the idea that California’s government, empowered by passage, would try to take control of more wealth. Republicans in red states have often painted the Golden State as a far-left government with draconian overreach.
One of the architects of the billionaire tax proposal has admitted that the one-time levy could potentially end up being permanent, given the history of other temporary taxes being renewed again and again.
However, as of now, it is not guaranteed the tax measure will appear in November. Democratic California Gov. Gavin Newsom has until June 25 to negotiate a deal with the tax proponents to withdraw the measure and avoid a costly election fight.
Newsom has publicly opposed the tax alongside business groups and wealthy individuals, arguing that the tax could hurt the economy as billionaires flee the state. He reportedly has made behind-the-scene moves to recruit surprising allies, such as Planned Parenthood, to oppose the tax.
Supporters of the tax claim it’s urgently needed to backfill massive federal funding cuts to health care by the Trump administration.
“Now that California’s historic Billionaire Tax has surpassed the state’s signature requirement, we’re one step closer to saving the hospitals and emergency rooms that we all rely on,” said Debru Carthan, a spokeswoman for the Billionaire Tax Now Coalition, in a Thursday statement.
