Mass exodus fears as California billionaire tax gets enough signatures to go on ballot, backers claim

Source: New York Post

The controversial billionaire tax measure has secured enough signatures to appear on the November ballot, according to the union leading the charge. “Supporters of the Healthcare Executive Compensation Act submitted more than one million signatures to the California Attorney General and county registrars across the state, a landmark step toward qualifying the measure for the November 2026 ballot,” the group said in a statement Sunday. The tax — proposed by the Service Employees International Union–United Healthcare Workers West — would impose a one-time 5% levy on California residents with assets exceeding $1 billion.