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An Open Letter

To: Gov. Newsom

From: A constituent in San Jose, CA

February 11

Stop resisting the 2026 Billionaire Tax Act. An estimated 5000 Californian residents could die from Republican program cuts if we don't shore up our health care. As the act says: California has around 200 billionaires who collectively possess an astonishing $2 trillion in wealth. These billionaires pay less than 1.5% of their total wealth in annual taxes, including federal, state, and local taxes, according to leading economic estimates - a small fraction of what ordinary Californians pay. I believe that if the federal government refuses to protect vulnerable Californians, our state must do so whether or not other states join us. To do otherwise is a race to a bottom where health care cuts cause a pandemic level of death. This billionaire tax act is a one time emergency measure and, instead of resisting it, the governor of California should be encouraging billionaires to help in this time of need.

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