Steyer stood in a $1,000-a-night SF hotel and called Prop 13 the ‘Trump Tax Loophole.’ Problem: it passed in 1978 under Democratic Gov. Jerry Brown when Trump was 32 and building condos. Steyer claims $20B is trapped; the state’s own analyst estimated $8-12.5B. Voters already rejected this exact proposal 52-48 in 2020. Three days after his union endorsement tracker showed him courting CSEA and CNA, he’s rebranding a 47-year-old Democratic law as a Trump scam.
Feb 25, 2026 · 5 min