Aggressive new California tax hike proposal could accelerate exodus from state

By Zach Halaschak

Published January 13, 2022 11:30am ET

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Aggressive new California tax hike proposal could accelerate exodus from state — A for sale sign is posted on a home in Monterey Park, Calif. Thursday, Sept. 11, 2014. The number of California homes sold in August fell to the lowest level in four years as a supply crunch pushed prices higher and kept homes out of reach for many buyers. The real estate research firm CoreLogic DataQuick reported Thursday that around 37,000 houses and condos were sold. (AP Photo/ Nick Ut ) | Nick Ut

A new healthcare proposal that would nearly double California’s tax revenue has the potential to push more people out of the state.

The ambitious legislative proposal would create a single-payer healthcare system and use the increased taxes to fund it. While the legislation faces an uphill battle, Gov. Gavin Newsom has publicly voiced support for single-payer systems in the past. He has yet to weigh in on the new legislation.

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