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California is facing a heated debate over a proposed billionaire tax aimed at high-income earners, led by a coalition of community leaders and labor organizations through the Overpaid CEO Tax Initiative. The proposal, which seeks to redistribute wealth to assist ordinary residents, has not yet been approved for voting but has already sparked significant discussion and backlash.
WEST HOLLYWOOD, CA - JANUARY 14, 2026 - The Fair Games Coalition, made up of community leaders, labor organizations, and advocates, announce the launch of the Overpaid CEO Tax Initiative in front of the Tesla Diner in West Hollywood on January 14, 2026. The Overpaid CEO Tax Initiative is a people-powered ballot measure to ensure that corporations that contribute to extreme wealth inequality pay their fare share so that working families in Los Angeles can thrive. (Genaro Molina/Los Angeles Times)
Credit: (Genaro Molina / Los Angeles Times)
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