Medi-Cal cuts, tax increases loom as Capitol lawmakers dicker over the budget
CalMatters – The primary election has come and gone. Votes are still being counted and the eventual results in close contests might not be known for weeks. However, it’s back to work for those already in office, including Gov. Gavin Newsom, and the biggest issue on their agenda is writing a budget for the 2026-27 fiscal […]
Boston Seizes on California Billionaire Tax to Lure AI Jobs
Bloomberg – The talent at some of America’s hottest artificial intelligence companies often passes through Boston-area universities before heading west to build billion-dollar businesses in Silicon Valley. Massachusetts business and political leaders say California’s proposed tax on billionaires is an opportunity to change that.
Medi-Cal and One Big Beautiful Bill: Federal Medicaid Reforms and the Fiscal Premise of California’s Billionaire Tax Act
Hoover Institution – Proponents of the 2026 California Billionaire Tax Act argue that the One Big Beautiful Bill Act (OBBBA) of 2025 created a “$19 billion per year budget hole” in California’s “already underfunded health care safety net,” justifying a one-time five percent wealth tax on California billionaires. We examine the OBBBA’s actual fiscal effect […]
Jack up taxes on California’s rich? Popular liberal mantra, but bad idea
Los Angeles Times – The Democrats’ mantra this election year — especially among wannabe governors — is that the richest Californians should “pay their fair share.” But by any objective measurement, they already do.
Another sales tax hike? Rising costs a concern for L.A. voters in healthcare measure
Los Angeles Times – It’s been years since Los Angeles County voters met a sales tax they didn’t like. They agreed to pay half a cent more at the cash register to fund buses, trains and pothole fillings in 2016. The next year, they gave a quarter-cent more to fund homeless services. In 2024, voters […]
Could Californians save at the pump? Congress debates gas tax pause
ABC10 – Gas prices remained elevated Monday as uncertainty continues over the war in Iran and a ceasefire President Donald Trump described as “on life support.” According to AAA, the national average price for a gallon of regular gas stood at $4.50 Monday afternoon. In California, the statewide average was about $6.20 per gallon of […]
Opinion: Billionaire tax would hurt California’s nonprofits
The Sacramento Business Journal – Charity begins at home, in more ways than one. While wealthy philanthropists support causes around the world, data show that donors disproportionately fund causes in their home state. As billionaires depart California in response to a proposed wealth tax, much of their philanthropy could move with them.
Opinion: California already losing with billionaire tax referendum
The Washington Post – The sponsors of a referendum in California to take 5 percent of the assets of all billionaires in the state said last week that they’ve submitted enough signatures to get their measure on the ballot in November. Even if it ultimately fails, the specter of such a wealth tax has already […]
New plans, new price tag for California’s high-speed rail project
KTLA 5 – New cost estimates are in for California’s high-speed rail project, and the price tag has gone up again. The massive rail system is designed to one day connect Los Angeles and San Francisco, with future extensions planned to San Diego and Sacramento.
Sneaky billionaire tax clause could eventually target middle class taxpayers, business group warns
California Post – California’s controversial billionaire tax could eventually hit more than just the people at the top of the financial food chain — eventually hurting the everyday Californian — according to a powerful Sacramento business group.