San Francisco Democrat Eric Kingsbury says Prop 40 billionaire tax is “not a workable policy,” votes against measure

A San Francisco Democratic Party committee member, Eric Kingsbury, said he voted against California’s proposed “billionaire tax” measure, Prop 40, arguing that it is not workable at the state or local level and could harm the economy. The statement was reported by New York Post Politics on August 27, 2026.

Kingsbury, described as a San Francisco Democrat committee member, framed his opposition in terms of local and state feasibility. He said Prop 40 “is not a workable policy to do locally or on a state level, and it really has the potential to harm our economy,” according to the report.

The account describes Kingsbury as breaking ranks with Democrats who have supported or aligned with the broader party position on the tax proposal. In the report, his vote is presented as an example of dissent within local Democratic structures over the measure’s direction and expected impact.

The same report ties the argument to questions of practical consequences, emphasizing Kingsbury’s view that a billionaire tax policy could generate economic damage rather than deliver effective benefits. The story does not specify the exact vote count, the ballot mechanics, or which Democrats supported the measure in San Francisco.

Prop 40, as characterized in the report, is positioned as a state-level tax proposal aimed at high-income and billionaire households. Kingsbury’s objection centers on what he called the policy’s lack of workable implementation at both local and state levels, and on the potential for broader economic harm.

Beyond Kingsbury’s remarks, the report indicates that the split among Democrats is likely to remain a point of attention as advocates and opponents argue over the measure’s costs and effects. The practical stakes include how the tax would be administered and whether lawmakers and local officials can carry it out in a way that meets stated goals.

It is not clear from the New York Post Politics account how Prop 40 will be implemented if enacted, or whether Kingsbury’s vote affects the broader statewide outcome. The report primarily documents his opposition and quoted rationale, rather than providing detailed legislative text or fiscal projections.