Overview
- UC Berkeley–POLITICO polling finds 50% of registered voters would vote yes, 28% no and 23% undecided on a one-time 5% tax on residents with over $1 billion in net worth.
- Majorities in the same survey voice concerns about permanence and economic fallout, including businesses leaving the state, reduced revenue and potential future tax shifts to the middle class.
- Backers say the measure, sponsored by SEIU‑UHW, could raise tens of billions for healthcare, education and food assistance programs.
- The campaign reported reaching about 25% of roughly 874,000 required signatures by a Feb. 22 filing, with a June 24 deadline to qualify for the ballot.
- Real estate brokers report heightened interest and purchases in Florida by wealthy Californians, while Gov. Gavin Newsom opposes the tax and tech figures explore a nine‑figure ‘California Renewal’ endowment to counter it.