{"id":6689,"date":"2026-06-11T12:02:14","date_gmt":"2026-06-11T12:02:14","guid":{"rendered":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/11\/what-are-the-fault-lines-in-billionaires-tax-ballot-fight-strategists-weigh-in\/"},"modified":"2026-06-11T12:02:14","modified_gmt":"2026-06-11T12:02:14","slug":"what-are-the-fault-lines-in-billionaires-tax-ballot-fight-strategists-weigh-in","status":"publish","type":"post","link":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/11\/what-are-the-fault-lines-in-billionaires-tax-ballot-fight-strategists-weigh-in\/","title":{"rendered":"What are the fault lines in billionaires\u2019 tax ballot fight? Strategists weigh in"},"content":{"rendered":"
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The \u201cmaster strategist\u201d behind an anti-Tom Steyer Super PAC laid out his theory for how a coalition of labor, business, and medical industry interests that helped sink the billionaire\u2019s gubernatorial campaign would succeed in defeating a wealth tax that could appear on the November ballot.<\/p>\n

Read more Amid slew of corporate tax ideas, Newsom chose one likely to hit people\u2019s premiums<\/a><\/p>\n

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Jim DeBoo, who led the California Is Not For Sale independent expenditure boosting Steyer rival Xavier Becerra, gave wide-ranging remarks on the governor\u2019s race and upcoming ballot measures during a Wednesday panel at a California Chamber of Commerce conference.<\/p>\n

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He spoke with ballot measure strategist Brandon Castillo, both of whom CalChamber President Jennifer Barrera jokingly referred to as \u201cmaster strategists.\u201d<\/p>\n

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The Associated Press said Tuesday that Becerra and Republican contender Steve Hilton had cinched enough votes in last week\u2019s primary to proceed to the November general election. Steyer, who broke state records by self-funding his campaign with $215 million, conceded and endorsed Becerra.<\/p>\n

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Steyer held himself out as a progressive who would have heavily taxed his fellow business moguls. It was a message DeBoo said was complicated by organized labor\u2019s split over a related billionaires\u2019 tax spearheaded by SEIU-United Health Care Workers President Dave Regan.<\/p>\n

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The proposal, which the Secretary of State\u2019s Office is reviewing for inclusion on the November ballot, would levy a one-time 5% tax on billionaire and funnel 90% of revenues towards hospitals and healthcare costs affected by federal budget cuts. A handful of billionaires are supporting competing measures to undermine the wealth tax, which Newsom and middle-of-the-road Democrats oppose, along with the State Building and Construction Trades Council and the California Teachers Association, which is supporting a separate measure to renew a tax funding public education.<\/p>\n

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\u201cIt\u2019s a unique time in California politics where one person (Regan) has managed to align the business community, the medical community, the billionaire community, all against one entity,\u201d DeBoo said.<\/p>\n

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Proponents of the tax say it would stave off hospital closures and other drastic measures by forcing the state\u2019s wealthiest residents to share their largesse as inflation and inequity surge.<\/p>\n

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SEIU-UHW Vice President Debru Carthan said in a statement that the union was confident voters would support the tax by \u201cdouble-digit margins,\u201d and dismissed DeBoo\u2019s remarks as the concerns of a \u201cfew political insiders focused on protecting 200 billionaires.\u201d<\/p>\n

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\u201cCalifornia is in crisis: Our hospitals are closing, our ERs are overwhelmed and families are being forced to choose between paying for their healthcare or keeping a roof over their heads \u2014 while billionaires pay lower tax rates than working people,\u201d Carthan said. \u201cCalifornians understand what\u2019s at stake: If we don\u2019t act, the bill for this healthcare crisis will fall on us.\u201d<\/p>\n

Read more Trump DOJ accuses UC Davis med school of discrimination, continues anti-DEI push<\/a><\/p>\n

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A Legislature veteran, DeBoo is one of Newsom\u2019s closest political advisers and served as his chief of staff from 2020 to 2022. His firm represents clients like PG&E, Chevron and the California Medical Association. And he led last year\u2019s successful Yes on Proposition 50 campaign that voters passed to redraw California\u2019s congressional districts.<\/p>\n

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The anti-Steyer super PAC teamed up with some of those corporate clients to boost Becerra \u2014 an effort DeBoo likened to a military order in the TV series \u201cGame of Thrones\u201d \u2014 trying to sway voters from approving a measure that opponents say could have the unintended consequence of driving away the state\u2019s biggest taxpayers.<\/p>\n

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\u201cWe called ourselves the Night\u2019s Watch,\u201d he said, \u201cBecause, Game of Thrones people, we were trying to get the walker away from the wall.\u201d<\/p>\n

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