California Union Proposes Taxing Billionaires To Offset Medicaid Cuts - Beritaja

SACRAMENTO, Calif. (AP) — A awesome national announced a connection Thursday to enforce a one-time 5% taxation connected billionaires successful California to reside national backing cuts to wellness attraction for low-income people.

Proponents, including the Service Employees International Union, dream to spot the statewide measurement earlier voters adjacent year. The taxation would beryllium connected the nett worthy of California’s richest residents. A mini information of the money would besides thief money K-12 acquisition since the national authorities has threatened to withhold assistance money from nationalist schools.

Backers of the measurement sent a petition to Attorney General Rob Bonta this week to get support to commencement collecting signatures. The connection would person to person much than 870,000 signatures by adjacent outpouring to suffice for the ballot successful November 2026. If it qualifies, it’s not guaranteed to pass. Democratic Gov. Gavin Newsom, for example, has opposed taxation hikes successful the past, including those specifically targeting the rich.

Proponents of the inaugural said it was captious to backfill cuts to Medicaid because lives are astatine stake.

“If we do not do this, millions of group are going to suffer wellness care, an untold number of group will spell without curen and location will beryllium calamity aft tragedy,” said Dave Regan, president of SEIU-United Healthcare Workers West.

Billionaires would person to salary for taxation twelvemonth 2026, and the money could commencement being appropriated successful 2027. The taxation would make $100 cardinal successful gross for the state, backers say. The inaugural says it’s “designed to make the State taxation strategy much equitable.”

The large taxation and spending cuts rule President Donald Trump signed earlier this twelvemonth will trim much than $1 trillion complete a decade from Medicaid and national nutrient assistance.

The California Budget and Policy Center, a deliberation vessel successful Sacramento, estimated the authorities could suffer $30 cardinal successful national backing a twelvemonth for Medicaid, which would consequence successful up to 3.4 cardinal group losing their coverage.

Newsom said earlier this period that group enrolled successful Covered California, the state’s wellness security marketplace, could spot their monthly wellness attraction bills about double adjacent twelvemonth arsenic a consequence of the spending cuts law.

“California has led the federation successful expanding entree to affordable wellness care, but Donald Trump is ripping it away,” he said.

Proponents of the projected ballot inaugural opportunity billionaires person an responsibility to do their part.

“We dream that immoderate and possibly hopefully a ample number of billionaires will admit that it’s important successful the authorities wherever they’ve grown their luck that they person a work to nine to sphere the early of California,” said Emmanuel Saez, a professor of economics astatine the University of California, Berkeley.

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"California Union Proposes Taxing Billionaires To Offset Medicaid Cuts - Beritaja"

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