The architect of California's proposed one-time 5% tax on billionaires is signaling intentions to transform the state-level initiative into a national campaign. Dave Regan, president of the health care labor union SEIU-UHW, stated that the measure, known as Proposition 40, is part of a larger effort to address wealth "hoarded outside of the tax system."

Regan told Politico that the proposal has generated more interest than anticipated and is now viewed as a national endeavor. "I think this is now a national campaign," Regan said. "We knew this was provocative, we knew it would touch a nerve, but we completely underestimated how much interest and attention it would generate."

Proposition 40 targets approximately 200 of California's wealthiest residents, with the projected revenue earmarked for the state's health care programs. The measure has faced significant opposition from powerful labor and health care groups, as well as Governor Gavin Newsom, while billionaires and tech executives have invested tens of millions of dollars to oppose it.

Despite the opposition, Regan expressed confidence in the measure's passage in California. "We think we’re going to win in November," he stated. He also predicted the tax would be adopted in other states.

Notable opposition includes Google co-founder Sergey Brin, who has reportedly contributed over $100 million to efforts opposing the tax, including a recent $20 million donation. Brin, whose net worth is estimated at around $267 billion, could face a tax liability of approximately $13.3 billion under Proposition 40. Brin has publicly announced his relocation to Nevada but remains involved in the California tax fight through a group supporting competing measures that could dilute Proposition 40's impact.

Regan dismissed concerns that billionaires would leave California in response to the tax. "I can’t stop governor Newsom or others from spreading misinformation, but we can all look it up," Regan said. "Its a complete fallacy that billionaires provide that much tax revenue." He further stated, "We don’t think any of these folks are going anywhere. Less than 10 of them claimed to leave California."

Governor Newsom has voiced opposition to the state-specific tax, advocating instead for a federal approach to wealth taxation. He has called for an end to what he describes as a "tax-free lifestyle loan" that allows wealthy Americans to borrow against stock holdings without incurring taxable income.

Despite the governor's stance, Proposition 40 has garnered support from the California Democratic Party and the California Federation of Labor Unions. Regan has also expressed a desire for support from national political figures, including Congresswoman Alexandria Ocasio-Cortez.

Proposition 40 is scheduled for the California ballot in November, where it may also contend with rival measures proposed by opponents.

![Healthcare workers and allies hold placards supporting a "Billionaire Tax Now" to keep hospitals and ERs open, in Los Angeles.]( "Healthcare workers and allies hold placards supporting a "Billionaire Tax Now" to keep hospitals and ERs open, in Los Angeles.")