Tom Steyer assails ‘Trump’s tax loophole’ — but it’s just Prop. 13
Tom Steyer, a candidate for governor of California, criticizes what he calls 'Trump's tax loophole,' which he claims benefits wealthy commercial property owners. However, this loophole is actually Proposition 13, a measure designed to protect homeowners from rising property taxes. Steyer's portrayal of the issue has sparked debate about the implications of Prop. 13 on California's economy and tax structure.
- ▪Tom Steyer describes California's 'Trump Tax Loophole' as a tax break for the wealthiest commercial property owners.
- ▪Proposition 13, enacted in 1978, limits property tax increases and was intended to protect homeowners from being taxed out of their homes.
- ▪Critics argue that Steyer's framing of Prop. 13 as a corporate giveaway overlooks its benefits for small businesses and homeowners.
Opening excerpt (first ~120 words) tap to expand
Opinion Tom Steyer assails ‘Trump’s tax loophole’ — but it’s just Prop. 13 By Lloyd Billingsley Published May 29, 2026, 9:07 p.m. ET See more of our coverage in your search results. Add The California Post on Google “California’s ‘Trump Tax Loophole’ is a billionaire-friendly tax break that lets the wealthiest commercial property owners avoid paying taxes based on what their properties are actually worth,” proclaims Tom Steyer, candidate for governor of California, on his website.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at California Post.
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