Tell Newsom: Don’t Help Billionaires Kill the Wealth Tax

Billionaires and their allies have raised roughly $300 million to stop California from making the wealthy pay their fair share. Now, Democratic Governor Gavin Newsom has joined them. He just endorsed Proposition 42, which would kill the proposed billionaire tax.

This isn't just a California fight. California votes November 3, and politicians everywhere are watching. A win builds momentum for making billionaires pay nationwide. A defeat, bought by billionaires with a Democratic governor's help, hands Republicans and corporate Democrats everywhere the excuse they've been waiting for to say it can't be done.

Newsom is weighing a run for president in 2028, so voters in every state have a stake in what he does here. Right now, he's backing the measure built to kill California's proposed tax. We need to put pressure on him to change course, before it’s too late.

Add your name now to tell Gavin Newsom to withdraw his Prop 42 endorsement and push for a national billionaires' tax.

Proposition 42, funded by Google co-founder Sergey Brin, would cancel out the tax and ban future state taxes on investments, business holdings, and other personal wealth. Supporters of Prop 42 have raised about ten times as much as those trying to make billionaires pay their fair share. 

The billionaire tax, Proposition 40, is a one-time 5 percent charge on a couple hundred California billionaires, and Brin alone could owe about $13 billion. Most of the money would go to Medi-Cal, healthcare for low-income families and children.

In June, Newsom called for a national billionaires' tax. Now, he's said he'd vote against California's proposed tax. You can't call for taxing billionaires someday while helping them beat the tax on the ballot today. If he doesn’t change course, it could make it harder for us to trust him and other politicians to actually build an economy that works for everyone.

If Newsom wants our support in the next presidential election, now is the time to prove that he deserves it.

Join us in telling Gavin Newsom: It’s time to make billionaires pay their fair share, not to join their side.

The petition to California Governor Gavin Newsom reads:

“Withdraw your endorsement of Proposition 42. Support making billionaires in California pay their fair share and publicly push Congress to pass the national billionaires' tax you proposed in June.”