Bernie Sanders Campaigns for California Billionaire Tax Proposition 40
Senator Bernie Sanders is campaigning in California to support Proposition 40, a proposed 5% tax on billionaires to fund healthcare and education.
United States Senator Bernie Sanders is campaigning across California to advocate for Proposition 40, a proposed one-time 5% tax on residents with assets exceeding $1 billion. Championed by the SEIU United Healthcare Workers West, the measure seeks to replace an estimated $100 billion in federal healthcare funding cuts, allocating 90% of the revenue to healthcare and the rest to education and food assistance.
Opposition to the measure is led by Governor Gavin Newsom and wealthy donors, including Google co-founder Sergey Brin. Opponents argue the tax would drive billionaires and their associated tax revenue out of the state. This opposition has raised over $300 million, significantly outspending the campaign for the measure. While some polls show a slight lead for supporters, other data indicates a divided electorate ahead of the November 3 vote.
The campaign has faced internal and political friction. Representative Ro Khanna has criticized Governor Newsom for opposing the tax, while SEIU UHW President Dave Regan has faced allegations of harassing colleagues. Despite these challenges, supporters continue to hold major rallies, including a high-profile event at the Novo Theater in Los Angeles.
