NEW: Tom Steyer Delivers Barn-Burning, Populist Address at CADEM Convention

The question is, are we going to have a government that listens to working people? Or to tech bros?”

SAN FRANCISCO, CA — Today, Tom Steyer brought the house down at the 2026 California Democratic Party Convention with a roaring speech outlining a populist vision for California that sees that government finally stands firmly on the side of working people.

Steyer attacked the powerful corporate interests that are driving the state’s affordability crisis, castigating special interests and the state’s political elite that have left California with higher utility bills, rising health care costs, and a tax system that favors large corporations and billionaires.

Steyer argued that his status as a successful businessman insulates him from the pressures of big donors, making him uniquely suited to solve the entrenched problems California faces.

• “Because here’s the thing about big donors – if you take their money, you have to take their calls,” said Steyer. “And I don’t owe them a thing. In a world where politicians serve special interests, I can't be bought.”

Steyer pledged that, as Governor, he will stop Wall Street from buying up middle-class homes, break up California’s utility monopolies to lower rates by 25 percent, ban corporate PAC money, and deliver statewide single-payer health care.

He also committed to going directly to voters to close the Trump Tax Loophole, which has allowed some of the wealthiest corporations to avoid paying their fair share in California for decades while depriving schools, health care, and other essential services of billions in funding.

Steyer made clear that he intends to achieve these reforms not by working around the special interests that oppose them, but by taking them on directly, just as he has done in successful fights against Big Oil, Big Tobacco, and powerful corporations that sought to avoid accountability.

Elsewhere, Steyer positioned himself as President Trump’s preeminent antagonist, pledging to demolish ICE and reminding the crowd that he was among the first to call for the President’s impeachment. Steyer’s 2017 Need To Impeach campaign was buoyed by the support of millions of Americans, including more than a million Californians and helped pave the way for Trump’s first impeachment.

• “I led an effort to impeach Donald Trump at a time when other Democrats were still preaching ‘norms’ and ‘civility’,” said Steyer. “Because I’ve been in enough corporate boardrooms to know a crook when I see one.”
• “ICE has to be abolished, and demolished,” he continued. “Because you can't reform an organization that is criminal from top to bottom.”

Since joining the race in November, Steyer has demonstrated strong momentum in a race that has been mostly defined by stagnation. He has doubled his support in the polls, solidifying his position in the top tier of candidates. And he has made serious inroads with organized labor and progressive leaders, earning the support of the 250,000-member-strong California School Employees Association, the 100,000-member-strong California Nurses Association, as well as Congressman Ro Khanna, Senator Henry Stern, Legislative Progressive Caucus Chair Assembly Member Alex Lee and Progressive Caucus Assembly Members Isaac Bryan, Gregg Hart, Ash Kalra, and Rick Zbur.

Read Tom’s remarks as prepared:

I’m Tom Steyer. I started a business here in California, and it was very successful.

But I’m not going to stand here and say ‘we need to run the government like a business.’

The problem is, there’s too much business in our government as it is.

Too many powerful industries buying off politicians, and ripping off taxpayers.

Too much profit, and not enough health care, in our health care system.  

Too many elected officials looking out for shareholders, instead of workers.

So for everyone who says, big businesses are efficient – yeah, they're efficient at screwing us.

Look, the number one problem facing Californians is that they can’t afford to live in California.

And to lower costs, we need a governor who will take on the wealthy corporate interests that like it this way.

The utilities that are ripping us off. The corporations that don’t want to pay taxes. The billionaire CEOs that think they deserve to keep every cent.  

The question is, are we going to have a government that listens to working people? Or to tech bros?

Because here’s the thing about big donors – if you take their money, you have to take their calls.

And I don’t owe them a thing. In a world where politicians serve special interests, I can't be bought.

It’s why I can go after the monopolies that charge us twice as much for electricity.

They’ll say it’s unfair to investors. But honestly, I don’t care. Because they’re robbing us blind.

It’s why I can state the simple fact that we need a single payer healthcare system in California.

It’s why I’m free to say that we CAN tax corporations. And that we CAN tax billionaires like me.

Look, this is the richest state in the richest country in the world. We’re creating immense wealth for the very few. And the working people who make it possible are getting priced out.

The teachers and nurses who’ve gone on strike – they don’t WANT to strike, they HAVE to strike. They have no choice.

So the reason I’m running is pretty simple: I know how to bring down costs, and I have a history of getting results.

I walked away from my business 14 years ago to do this full-time. I took on the oil companies and won. I took on tobacco companies and won. I took on powerful out-of-state corporations and won.

And of course, I didn’t do it by myself – I did it alongside an enormous number of people who are here in this room.

We didn’t just beat the entrenched interests – we smashed them. And raised billions for schools, for healthcare, and for the environment, without charging Californians a penny.

And I’ve taken on Trump.

I led an effort to impeach Donald Trump at a time when other Democrats were still preaching ‘norms’ and ‘civility’.

Because I’ve been in enough corporate boardrooms to know a crook when I see one.

And I have a plan to make Trump pay the taxes he owes the state of California – in full.

Democrats can't keep playing by the old rules.

ICE has to not just be abolished, but demolished.  Because you can't reform an organization that is criminal from top to bottom.

And by the way Trump IS coming for us. But we can’t wait to respond.

The way we beat him is by being aggressive and staying ahead of him.

I’m relentless. And I will never be outworked.

There are going to be some very wealthy, very powerful people who don’t want me to win.  

Utilities are going to hate me. Corporations are gonna hate me. Fellow billionaires are going to hate me, too.

I don't care.

The big tech CEOs might not support me. But I’ve got the support of nurses. And bus drivers. And custodians. And cafeteria workers.

So bring it on.  

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