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Steyer: Corporate profits are soaring and Californians are struggling. I’m running to change that.

May 17, 2026

I’m running for governor because Californians can’t afford to live in California.

I’ve been talking to people across the state, and I hear the same story everywhere I go: Housing costs are too high. Healthcare premiums are going up. Gas costs so much that people are working longer hours just to afford their commutes. And as Californians struggle to make ends meet, corporations post record profits.

It’s unacceptable. The current system puts corporate profits ahead of working people and families. I’m running to change it.

Almost 15 years ago, I walked away from my business to fight for Californians full-time. Since then, I’ve taken on Big Oil, Big Tobacco, and wealthy out-of-state corporations at the ballot box – and won every time. My wife, Kat Taylor, and I have pledged to give our money away in our lifetimes, and together, we fought to secure free school meals for every child in California. And through NextGen America, a nonprofit advocacy group I founded, we’ve registered 1.6 million voters.

Those fights taught me that to accomplish anything in Sacramento, you have to be able to stand up to corporate interests used to getting their way. Because if you agree to play their game, Californians always lose.

My vision for California is one where no one has to choose between seeing the doctor and making rent. It’s one where people can imagine a future in the places they grew up. And it’s one where Californians aren’t price gouged by corporations who get rich by ripping them off.

To achieve those goals, I’ll deliver single-payer healthcare, break up utility monopolies to lower electric costs by 25 percent, and build one million homes Californians can afford. I encourage interested readers to visit tomsteyer.com/issues to learn more about how I’ll get it done.

I’m also the only candidate with a comprehensive plan to raise revenue – one that matches both the reality of California’s budget shortfall and the scale of what’s required to address California’s most urgent problems.

The answer to California’s budget shortfall has been hiding in plain sight. On day one, I’ll call a special election to close a loophole that allows billionaires and wealthy commercial property owners to avoid billions of dollars in taxes. This is known as a “split roll” of Proposition 13, and it’s projected to generate up to $25 billion in sustainable annual revenue that we’ll invest in education, healthcare, and infrastructure.

To be clear: Split roll won’t cost homeowners or small businesses a cent. Instead, it’ll mean, for example, that Chevron pays taxes based on the current property value of its commercial facilities, not their 1970s value – something that’s both eminently reasonable and long overdue.

Additional revenue is also an essential piece of the housing puzzle. In California, there’s no housing silver bullet; it’s silver buckshot. My plan addresses the three interlocking obstacles to building more housing: financing, permitting, and building innovation. I’ll also stand up to Wall Street and corporate developers ripping off working people and families.

I also know that Californians can’t wait for relief. As we ramp up construction, I’ll deliver financial relief to renters, support first-time homebuyers, stabilize our broken insurance market, and reform our homelessness strategy to get people off the street and into care they need.

As we approach election day, I don’t fault voters for feeling like this race is confusing or complicated. Really, though, it comes down to a simple question: Do we want a California that works for corporations, or a California that works for Californians?

I know my answer – and so do the powerful interests spending millions against me.

The special interests making life more expensive for working Californians have made it abundantly clear that they don’t want me to be governor – and that they’re okay with anyone else. To date, PG&E – Northern California’s equivalent of SoCal Edison – has spent more than $11 million against me. And Chevron has given the maximum contribution to my opponent, Xavier Becerra. They’re doing that because they know I’ll do the things I say I will – and put people above their profits.

They say you can judge a man by his enemies. I’m proud of mine. But I’m even prouder to have the support of so many Californians committed to fighting for a better future, including a broad coalition of labor unions, every leading environmental group, progressive organizations like Bernie Sanders’s Our Revolution, and elected officials up and down the state.

I love this state. I’m so proud to be a Californian. As your governor, I’ll work hard every day to lower costs, make corporations and billionaires pay their fair share, and win a California you can afford.

Tom Steyer is a climate advocate and Democratic candidate for governor of California.

Orange County Register

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Steyer: Corporate profits are soaring and Californians are struggling. I’m running to change that.

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