Today's Video Headlines: 02/19/26
Gubernational candidate Tom Steyer is eyeing a 2027 special election to modify California ’s landmark Proposition 13 by reassessing commercial properties at market value — reopening one of the state’s most politically volatile tax debates.
“The big Republican bill is really going to hit the California budget, and that is going to blow a hole in it,” Steyer told Politico, an allusion to health care cuts that were part of President Trump’s signature tax overhaul that was signed into law last year.Tom Steyer speaks during a Feb. 3 debate in San Francisco as the billionaire Democrat pushes for a 2027 special election to modify Proposition 13 and raise commercial property taxes.“We really can’t wait. We’re on the clock. And so, yes, the only way to pass that is with a special election.” Proposition 13, which was approved by voters in 1978 amid backlash over soaring property tax bills, amended the state constitution to cap the base property tax rate at 1% of a property’s assessed value and limit annual increases in that assessed value to 2% unless the property changes hands. Twisted details emerge as it's revealed trans ice rink shooter was cousins with the ex-wife he murdered Arizona authorities continue search for evidence near Nancy Guthrie's home — even canvassing in 'middle of the night': neighborsThe measure was designed to protect homeowners — particularly retirees on fixed incomes — from being taxed out of their homes as real estate prices surged.Republican gubernatorial hopeful Steve Hilton, seen left with rival candidate and San Jose Mayor Matt Mahan, is currently leading the crowded primary field in recent polling.A “split-roll” system, long favored by labor unions and progressive activists, would carve commercial and industrial properties out of those protections by reassessing them regularly at current market value while keeping Prop 13’s limits in place for residential properties.Supporters argue the change would generate billions in new revenue for schools and local governments, while opponents contend it would raise costs for businesses and ultimately ripple through the broader economy.Rep. Eric Swalwell, who is polling ahead of Steyer among Democrats, is vying for one of two spots in California’s top-two primary system.The latest Emerson College/Inside California Politics poll shows Steyer lagging both the Democratic frontrunners and the broader field., followed by Rep. Eric Swalwell at 14% and Riverside County Sheriff Chad Bianco at 14%, with former Rep. Katie Porter at 10% and Steyer at 9%. Among Democrats specifically, Steyer draws 12%, trailing Swalwell at 23% and Porter at 14%, underscoring that he remains behind the party’s leading contenders as well as the overall field. A corporate tax hike in California was panned by experts who spoke to the California Post. They said raising taxes on companies will simply spur more of them to relocate outside of the state.San Francisco’s skyline is seen above the Financial District, as critics warn that higher commercial property taxes could prompt businesses to relocate out of California.“This isn’t tax reform, it’s economic self-sabotage — when you punish the people who create jobs, you don’t soak the rich, you soak the workers through layoffs, higher prices, and empty storefronts,” Ted Jenkin, managing partner at Exit Wealth Advisors, told the California Post.UK blocks Trump from using RAF bases for strikes on Iran — and he is already retaliating Twisted details emerge as it's revealed trans ice rink shooter was cousins with the ex-wife he murdered Arizona authorities continue search for evidence near Nancy Guthrie's home -- even canvassing in 'middle of the night': neighborsTrans dad shoots wife, 3 kids in horrid 'family dispute' at crowded RI hockey arena — as players and fans are seen scrambling to safetyTom Steyer speaks during a Feb. 3 debate in San Francisco as the billionaire Democrat pushes for a 2027 special election to modify Proposition 13 and raise commercial property taxes.Republican gubernatorial hopeful Steve Hilton, seen left with rival candidate and San Jose Mayor Matt Mahan, is currently leading the crowded primary field in recent polling.Rep. Eric Swalwell, who is polling ahead of Steyer among Democrats, is vying for one of two spots in California’s top-two primary system.San Francisco’s skyline is seen above the Financial District, as critics warn that higher commercial property taxes could prompt businesses to relocate out of California.
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