Tom Steyer Backs California Billionaire Tax as He Pledges AI Job Guarantees in 2026 Governor Race
Updated
Updated · WIRED · May 19
Tom Steyer Backs California Billionaire Tax as He Pledges AI Job Guarantees in 2026 Governor Race
3 articles · Updated · WIRED · May 19
Tom Steyer used a campaign interview to frame his California governor bid around taxing extreme wealth, regulating AI and defending immigrants, arguing the state should model an alternative to Trump-era policies.
On inequality, Steyer said he would vote for California’s Billionaire Tax Act but called the one-time levy too limited, while insisting innovation should still thrive if billionaires “pay their fair share.”
On AI, he backed pre-release testing, child safeguards and worker protections, promising every Californian displaced by AI would be moved into a well-paid job with benefits through training tied to actual openings.
On immigration, Steyer vowed to preserve California’s sanctuary stance, prosecute racial profiling and violence, inspect detention centers and confront ICE, which he called a criminal organization.
The pitch highlights Steyer’s central balancing act: he is spending more than $130 million of his own fortune while arguing California can curb billionaire power without driving away the companies and talent that fuel its economy.
Can a tax on tech giants fund a guaranteed job for every worker AI replaces, or is this promise unachievable?
Can California enforce its own strict rules on AI and climate when they directly challenge the national policy framework?
As energy costs soar, can one governor truly dismantle utility monopolies and deliver a promised 25% rate cut to Californians?
California 2026: Tom Steyer’s Populist Campaign, Billionaire Tax, and AI Wealth Fund Face Fierce Opposition
Overview
As of mid-May 2026, Tom Steyer stands out as a leading Democratic candidate for California Governor, using $132 million of his own money to boost his campaign and communicate directly with voters. His populist approach, which resonates with many Californians, centers on challenging PG&E’s monopoly to lower utility bills and address affordability. Steyer’s campaign highlights his commitment to making life more affordable for residents, using his financial independence to push for reforms that target powerful interests and promote economic equity across the state.