Katie Porter Slams California Billionaire Tax and Reveals Where the Money Will Actually Go

Katie Porter has come out swinging against California’s proposed billionaire tax.

The former Democratic congresswoman, 50, published a scathing op-ed this week attacking Proposition 40, a one-time 5% levy on the wealth of all California billionaires that is scheduled to appear before voters in November. Porter, who finished fifth in the state’s crowded gubernatorial primary in June with just 4.4% of the vote, had previously promised to quit politics following her electoral defeat.

Porter did not mince words about the measure, calling it “ass backwards” in her written critique.

“Proposition 40 is a prime example of a seemingly progressive-sounding policy solution that ultimately just perpetuates the status quo,” she wrote in the op-ed.

“It does nothing to reform our healthcare system and would send billions in tax dollars to private health insurance companies and corporations that dominate our healthcare system,” Porter continued. She dismissed the proposal as a “band-aid” that would fail to address inflation-driven health care costs, adding that there are “zero guarantees” the revenue would actually reach patients.

The Orange County progressive noted that several major health organizations have lined up against the measure, including the California Medical Association, the California Primary Care Association and Planned Parenthood Affiliates of California. She also echoed opponents’ warnings that the tax could trigger an exodus of wealthy residents, devastating the state economy.

“Trading recurring general fund revenue, which reliably pays for schools, public safety and healthcare year after year, for a one-time cash infusion is a bad deal for California’s future,” Porter wrote.

Katie Porter rips apart California billionaire tax and reveals where the cash will actually go

Porter’s sharpened opposition arrives as Governor Gavin Newsom appointed her to the California Community Colleges Board of Governors, a position that pays $100 per day of official business and still requires state Senate confirmation. Newsom has emerged as one of the most prominent Democratic opponents of Prop 40 and reportedly worked behind the scenes to persuade left-leaning groups like Planned Parenthood to join the opposition.

This is not the first time Porter has criticized the billionaire tax, though her earlier objections were more measured. During a gubernatorial primary debate held before September, she called Prop 40 “simply not good tax policy,” arguing that a one-time tax could not meet the state’s ongoing revenue needs. At that time, she wanted the measure to go further, saying “half billionaires” should pay more too, and she complained that dedicating too much revenue to health care left out other programs.

Despite her fierce opposition to this particular measure, Porter has maintained her broader stance that “billionaires should pay their fair share.”

Katie Porter rips apart California billionaire tax and reveals where the cash will actually go

Porter’s political career has been marked by electoral setbacks and controversy over her temperament. Before her fifth-place gubernatorial finish, she placed a distant third in the 2024 Democratic primary for the U.S. Senate seat ultimately won by Adam Schiff. Allegations about her behavior have followed her for years, including a 2013 divorce filing in which her ex-husband claimed she once dumped a bowl of steaming mashed potatoes on his head during an argument, burning his scalp. Porter disputed his broader account and made allegations of her own in court filings. During the governor’s race, leaked footage showed her berating a staffer who entered a taped interview frame, telling the aide to “get out of my f—ing shot.” She later apologized for the outburst and acknowledged she “could have been better” in tense encounters.

The Yes on Prop 40 campaign did not immediately respond to requests for comment on Porter’s claims.

Katie Porter rips apart California billionaire tax and reveals where the cash will actually go

Porter’s state Senate confirmation hearing for the community colleges board appointment has not yet been scheduled.

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