Elections· KFF Health News

California’s Billionaire Tax Promises Healthcare Relief. The Fine Print Is Murkier.

By Jackie Fortiér, KFF Health News · October 14, 2026

An initiative on the California ballot would levy the nation’s first wealth tax on billionaires. Supporters say the proceeds would help offset President Donald Trump’s sweeping healthcare cuts. But critics argue that the temporary infusion of cash is a giveaway to politicians.

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California’s Billionaire Tax Promises Healthcare Relief. The Fine Print Is Murkier.

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