UCLA Study: Proposed Billionaire Tax Could Fund Health Coverage for Millions; Newsom Opposes the Plan
LOS ANGELES — A research summary released October 15 by researchers at the University of California, Los Angeles (UCLA) estimates that a proposed California 'billionaire tax,' if enacted, could raise enough revenue to pay for health insurance for millions of Californians. The study stresses that this is an estimate for a proposed tax that has not been enacted, not a description of current policy.
The researchers say that if the federal government does not renew the Affordable Care Act premium tax credits and cuts Medi-Cal, California faces a related funding gap of about $17 billion; roughly $4 billion would be needed next year to maintain current coverage levels; and an estimated 1.5 million Californians could lose coverage.
For context, Governor Newsom has publicly opposed the billionaire tax idea and backs Proposition 42, which would amend the state constitution to permanently bar California from imposing a wealth tax. Whether the proposed tax advances depends on subsequent legislative and voter processes. (Source: UCLA research summary, October 15; GSM's earlier reporting on Proposition 42)
Source: GSM · USA (original Chinese edition)
Photo: 图：加州大学洛杉矶分校罗伊斯堂（Royce Hall）。摄影：Beyond My Ken，CC BY-SA 4.0，来源：Wikimedia Commons。Royce Hall at UCLA. Photo by Beyond My Ken, CC BY-SA 4.0, via Wikimedia Commons.
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