Tom Steyer is pushing a ballot measure to close what he's calling the "Trump Tax Loophole" in Prop 13—but critics say he's inflated the revenue figure by up to 150% and slapped a new name on a 1978 Democratic law. Meanwhile, a separate SEIU-UHW ballot initiative to tax billionaires has reportedly already triggered an exodus of roughly 48 billionaires and $1.1 trillion in wealth before a single vote is cast. Both fights are shaping up as the defining fiscal battles of California's 2026 ballot season, with the state already facing an $18 billion deficit despite record revenues.
California's most powerful environmental justice group thinks your right to own a home is a colonial relic. They're killing housing to prove it.