Steyer — who believes billionaires like himself should be taxed more — remains the only unbought candidate in the race as tens of millions of dollars flood in against him

SAN FRANCISCO — Today, the anti-Tom Steyer campaign, funded by Big Oil, PG&E, and other corporate interests, released a new attack ad lying about Tom Steyer’s position on taxing billionaires. 

The ad — part of a $21 million effort against Steyer — is the latest desperate attack in an effort to tear down Steyer as he continues to build momentum in the race for governor. 

“There’s a reason why special interests are lining up against Tom and only Tom – and that’s because they know he’s the only one who will hold them accountable,” said Steyer for Governor Spokesperson Danni Wang. “Tom will put an end to their influence that keeps costs sky high for California families.”

“Despite these misleading attempts, Tom’s position has been consistent on taxing billionaires like himself, and he is the only candidate in this race calling on billionaires to pay more,” added Wang. “The wealthiest need to pay their fair share, and Tom is the only one in the race who will finally make it happen.” 

In the last several weeks, corporate interests have raised more than $21 million to spend against Tom, with major funding from PG&E, the California Association of Realtors, the California Building Industry Association, and the California Chamber of Commerce’s Political Action Committee — the same corporate PAC favored by Big Oil and Big Tech.

Steyer has never taken a dime of corporate PAC money and has vowed to ban corporate PACs if elected governor.

Background

Special Interests are spending a combined $21 million in independent expenditures AGAINST Tom Steyer, including:

• $10,000,000 from PG&E via Californians for Resilient and Affordable Energy
• $5,000,000 from the California Association Of Realtors
• $5,000,000 from JobsPAC via the California Chamber of Commerce
• $1,000,000 from the California Building Industry Association

California has created a two-tiered tax system. While working people pay their fair share, the wealthiest people and corporations exploit tax loopholes to skip out on paying billions of dollars every year. 

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.

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