As Democrats begin thinking about the 2028 election, voters in states such as Pennsylvania, California and elsewhere are pushing their lawmakers to take a stance on taxing billionaires in order to cover basic budget items.
In Pennsylvania, the Tax Billionaires, Fund PA campaign believes the commonwealth could raise between $6 and $7 billion by taxing passive income, taxing social media ads, and closing tax loopholes like the Delaware Loophole.
Over 150 union members with the Service Employees International Union (SEIU) and a coalition of progressive organizations, called on Gov. Josh Shapiro and Democrats in the Pennsylvania House and Senate to support a billionaires tax here in Pennsylvania.
Opponents of the billionaires tax packet point to the state’s uniformity clause, which prohibits a progressive taxation on personal income, but lawmakers believe that their bills are specifically tailored to stay in line with Pennsylvania’s constitution.
There’s little chance that Pennsylvania taxes billionaires in this legislative session, but as Democrats look at the possibility of having a legislative trifecta next year, having these conversations builds support among the public consciousness.
“ We pretend to be dumbfounded about why the working class is leaving the Democratic Party when the answer is right in front of us. Working people can no longer stand watching billionaires amass a net worth of nations while our conditions get worse and worse,” State Rep. Rick Krajewski (D-Philadelphia) said at a press conference on Wednesday.
