Tax the Rich in ’26

Two progressive state ballot measures endorsed by CA DSA

The gap between the billionaires and the rest of us has never been wider. We are living in what has been called “The New Gilded Age”.  It is time to reduce soaring economic inequality and invest in California’s future. We need to fund healthcare, schools, and essential services for the multiracial working class—not continue to allow the ultra-rich to buy ever more mansions and yachts, and invest in job-killing AI. It’s time to tax the rich.

The 2026 Billionaire Tax Act

The 2026 Billionaire Tax Act would levy a one-time 5% wealth tax on individuals worth more than $1 billion in order to offset the loss of almost $100 billion in federal funding for Medi-Cal. Without this funding, thousands of jobs will be lost, millions of Californians could lose coverage altogether, and care facilities across the state could be forced to close.

The Children’s Education and Health Care Protection Act

The Children’s Education and Health Care Protection Act would make permanent the temporary income tax imposed on the top 2% of income earners by Proposition 55 in 2016. This tax raised $14 billion last year for public education and health care. The loss of that funding would be catastrophic.

You can help by joining our working group and/or bringing a resolution to your chapter to endorse these ballot measures!

Learn More:

  • Frequently Asked Questions (FAQ)
    A one-page flyer addressing: Why are these measures needed? What do they propose to do? Who supports them? Who opposes them? 

  • Progressive Tax Annotated Bibliography
    A listing of books, articles, videos and websites addressing the little-known but incredibly important history and examples of struggles for making the rich pay a fair share of taxes. 

  • Get the news
    California Red has been covering developments around these ballot measures since late last year. Read the stories here.