What California’s Billionaire Tax Act Reveals About Its Larger Fiscal Problem

The 2026 Billionaire Tax Act is a proposed ballot initiative that would impose a one-time 5% excise tax on the accumulated wealth of California billionaires. The measure was brought forward by Suzanne Jimenez, the Chief of Staff for the healthcare labor union, Service Employees International Union-United Healthcare Workers West (SEIU-UHW). The proposal was motivated by the belief that establishing an emergency fund for Medi-Cal and its foundations would help mitigate a projected $19 billion annual loss resulting from federal funding cuts.

StateKatie CoyneMarch 27, 2026tax, billionaire tax, unions, Katie CoyneComment

Unions In America Are Under Attack: Here’s Why That Matters

Unions are one of the most important parts of our workforce today and they are under attack. Union membership has been steadily decreasing since the 1980s, but why? There are many answers to that question but the most obvious and the most relevant answer is corporate union busting and the deregulation that allows it. Corporations and their political lackeys put up a big fight, but are unions worth the effort?

Totally and completely.