The Fair Games Coalition announces the launch of the “Overpaid CEO Tax Initiative” in front of the Tesla Diner on Jan. 14. AdvertisementThe focus on taxing the richest of the rich comes amid a growing affordability crisis in California, home to the nation’s most expensive housing market and highest income tax. To get the statewide billionaire tax proposal on the November ballot, supporters need to collect nearly 875,000 signatures by June 24. Gavin Newsom vowed to stop the billionaire tax, arguing that California can’t isolate itself from the other 49 states. Business Billionaire tax proposal sparks soul-searching for Californians Economists say a tax on California’s wealthiest residents could be the only way to pay for needed healthcare services in the state.

Source: Los Angeles Times January 18, 2026 16:48 UTC