Katie Porter

“I generally, as a progressive, have fought to make sure that the ultra-wealthy pay more,”

Katie Porter · said date not stated · reported 2026-10-18

Porter explained her general progressive stance on taxing the ultra-wealthy before stating her opposition to Prop 40.

“But this tax doesn't do that correctly, causing these people to pick up and to leave. We want billionaires to create jobs here, to start companies here. …”

Katie Porter · said date not stated · reported 2026-10-18

Porter argued the tax would incorrectly drive billionaires out of California.

“You don't get a second bite at tax policy,”

Katie Porter · said date not stated · reported 2026-10-18

Porter cautioned about the lasting consequences of tax policy decisions.

“A tax that you pass has enduring consequences. When somebody leaves California, we can no longer tax them. That is a permanent problem. It is much harder to get tax base back than it is to grow it in the first place.”

Katie Porter · said date not stated · reported 2026-10-18

Porter warned that when wealthy individuals leave California, the state permanently loses the ability to tax them.