California’s New Wealth Tax Plan Targets Wealthy Even If They Flee to Another State

Storm clouds blanket the Los Angeles skyline as seen from Kenneth Hahn State Recreation Area following a rainstorm in Los Angeles, Calif., on Jan. 17, 2023. AP Photo/Damian Dovarganes

California Democrats are pushing for a new tax on the state’s wealthiest residents that includes the ability to tax them even after they’ve left the state for places like Florida or Texas—or even after they move out of the country.

State Rep. Alex Lee introduced the Wealth Tax Act as Assembly Bill 259 and Assembly Constitutional Amendment 3 in the California State Legislature last week, and on Monday held a press conference with his Democrat colleagues calling for wealth taxes “to bring tax justice.”