California Voters Set to Decide on Billionaire Tax to Counter Federal SNAP Cuts

California voters will decide in November on a one‑time 5 percent tax on the state’s billionaires to offset federal SNAP cuts that could strip food aid from over 665,000 residents.

The federal One Big Beautiful Bill Act (OBBBA), passed in June, reduces Supplemental Nutrition Assistance Program (SNAP) benefits by more than $186 billion over ten years. Analysts estimate this could leave more than three million Americans, including about 665,000 Californians, without food aid.

In response, a coalition gathered over 1.5 million signatures to place a ballot measure before voters. The proposal would impose a single 5 percent levy on the assets of California’s more than 200 billionaires, aiming to raise roughly $100 billion. About ten percent of that revenue is earmarked to replenish SNAP funding lost to the OBBBA cuts.

Greer Dove, a single mother and college worker in Marin County, says she feels growing anxiety that she may lose her SNAP benefits, which help her buy fruit for her daughter and keep her household stable.

If approved, the tax would create a new state‑level revenue stream designed to cushion the impact of federal cuts on low‑income families. Critics warn that such a wealth tax could face legal challenges and may affect investment decisions, while supporters argue it targets extreme wealth to protect essential services.

Watch for the November vote outcome, any ensuing court challenges, and how the state plans to allocate the projected funds if the measure passes.