This story is fourth in a series on California gubernatorial candidates. See our previous story on Steve Hilton here.
Tom Steyer, a billionaire who has poured millions of his own into his campaign for governor, says he’s not the only billionaire on the ballot. “The billionaires and the big corporations in this state have lined up behind everybody but me,” he told reporters at a news briefing earlier this week.
Steyer, the only candidate for California governor who favors taxing wealthy persons like himself, in 2010 pledged to give half his wealth away over the course of his lifetime. He is 68.
“I’m the change candidate,” he said. “I’m for working Californians.”
A former hedge fund manager, he acknowledged making a mistake 22 years ago when he invested in “a small private prison company.” A year later, he said he realized that investment was a mistake and “made a U-turn.”
“I didn’t just make a mistake, admit it and move on. I have worked really hard to help California move from a time of racist, mass incarceration to the idea of rehabilitative justice,” he said, noting that Smart Justice California endorsed his candidacy.
ICE: ‘a criminal organization’
Steyer called ICE “a criminal organization,” but acknowledged that, as governor, he would not have the power to abolish it. Rather than push federal detention centers out of the state, he said he would demand access for inspections and prosecute ICE agents for racial profiling or using violence against Californians.
“Immigrants built California. Immigrants make California run today. I am strongly in favor of more immigrants coming to California from all over the world,” he said. “This is one of the great strengths of California.”
DEI and structural racism
He furthered his stand against structural racism when asked about Diversity, Equity and Inclusion programs.
“When there has been structural racism and structural injustice, it has to be intentionally called out, addressed and redressed,” he said. “Every organization that I have started has over-represented people of color because we hire the best people. That is not us being nice. It is us understanding the value of individuals.”
Single-payer health, only option
Steyer, endorsed by the California Nurses Association, took a stand in favor of a single-payer health care system. Not only does it provide good health care at half the cost, Steyer said it is the only viable option to provide every Californian their right to health care.
“Single payer systems across the world cost about half as much as our system and they deliver outcomes that are at least as good,” he said. “The escalating costs of healthcare have been increasing at twice the rate of inflation for 15 years and show no sign of abating.
“In order for it to work on a state basis, we need to get a waiver from the federal government, which means we need a different administration in Washington D.C.”
He said that when Donald Trump got a bill that kicked millions of Californians off Medi-Cal it created a $9-million hole in the state budget. Since the process to move to single-payer health care is complicated, he stated he would begin moving toward that on day one.
Gov. Gavin Newsom also campaigned on supporting single-payer health coverage, but rolled back that support once he was in office.
Fine polluters; promote clean energy
Steyer vowed “to pursue an aggressive climate action plan without burdening working families,” citing three key points: 1) the polluter pays; 2) focus on the most polluted areas which are generally in areas where people of color live “because we have structural racism”; and 3) deploy clean energy “because it’s cheaper.”
He blamed a $1.50 increase in the price of gas at the pump on the war in Iran and said he would tax related “windfall” profits. “The war hasn’t cost Chevron a dime and they’re getting windfall profits,” he said.
Competition with Xavier Becerra
While there are just six Democrats and two Republicans from a pack of 61 names on the primary election ballot that rank in the polls, Steyer is battling Xavier Becerra for a place on the November ballot. Countering Becerra’s 35 years of government experience, Steyer’s website argues his success as a private citizen fighting oil companies, big pharma and big tobacco, makes him the right choice.
Becerra’s website, meanwhile, devotes a full page to attacking Steyer’s investment record.
Accomplishments Steyer claims include: financing 17,000 housing units through the bank he co-founded with his wife; leading the No on 23 campaign to defend California’s clean air law and secure $28 billion in revenue for the state (in 2020); the Prop. 39 campaign to deliver billions of dollars to public schools (in 2012); and the Prop. 56 campaign to take on Big Tobacco and deliver $9.6 billion for health care (in 2016).
Despite never having held an elected office, Steyer is polling well enough to possibly stay through the primary in which voters will choose the top two candidates to compete in November. The most recent poll shows him in third place, behind Republican Steve Hilton and fellow Democrat Becerra.
Six years ago, Steyer pulled out of the 2020 presidential race when it became clear Joe Biden would be nominated. That same year, he chaired Gov. Newsom’s Task Force on Business and Jobs Recovery to advise on California’s recovery from the COVID-19 pandemic.
Lindajoy Fenley is a senior editor at ChicoSol.