GET THE FACTS: Steyer Will Make Corporations and Billionaires Pay their Fair Share

SAN FRANCISCO — During tonight’s debate, Tom Steyer’s plan to make California more affordable took center stage. 

“Tom’s position is simple: Tax the billionaires. Make corporations pay up. Give working Californians a governor who fights for them, not the ultra-rich. That’s why corporate special interests are pouring millions into this race to try and stop him,” said Steyer for Governor spokesperson Kevin Liao. “Tom will always be straight with voters about his plans, his record, and his money. The same can’t be said for the shady special interests funding these misleading attacks.”

THE FACTS

Steyer Pledged To Close A Commercial Property Tax Loophole He Said Has Cost California $243 Billion Since 2012. "As Governor, Steyer will close a billionaire-friendly tax break that lets the wealthiest commercial property owners avoid paying taxes based on what their properties are actually worth. Since 2012, this loophole has cost California an estimated $243 billion, money that should have gone to schools, healthcare, and infrastructure." [Tom Steyer for Governor, accessed 4/28/26]

Steyer Has Long Supported A Tax On Billionaires. “Let’s raise taxes on the rich and use the money to invest directly in the American people — by improving infrastructure, promoting clean energy, strengthening public education and expanding healthcare. Let’s boost wages to stimulate economic growth and job creation. It’s the only way we will create broad prosperity, rebuild the middle class and give working families a fair shake.” [Los Angeles Times, 10/5/17]

Steyer Said He Would Vote To Tax The Wealthy, Including Billionaires Like Himself, To Fund Health Care And Education. "Let me be clear: If there's an opportunity to tax the wealthy to fund health care and education, I'd vote for it all day long. At the end of the day, I'm always going to come down on the side of supporting working families, and if that includes making billionaires like me pay more, then so be it." [Substack, 1/26/26]

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