Massachusetts Democrats Push $100 Billion Wealth Tax as Ocasio-Cortez Leads 2028 Polls
State officials are backing a proposal modeled on California's Proposition 40 while simultaneously opposing a primary reform measure that would increase internal party competition.
By Layla Fontaine ·
Massachusetts Democratic leaders are advancing a proposal to tax billionaire wealth, a move that coincides with early national polling showing Rep. Alexandria Ocasio-Cortez as the frontrunner for the 2028 Democratic presidential nomination. The state's push for a new tax aligns with a broader shift in the party toward candidates who identify with socialist economic platforms, creating a potential conflict with voters in moderate districts.
Rep. Ayanna Pressley and Boston Mayor Michelle Wu are the primary architects of this strategy. Pressley, who represents a district in eastern Massachusetts, has gone on record supporting radical economic policies. Wu, who has held the Boston mayoral office since 2021, is also moving in the same direction. Both women are positioned to seek higher office in the coming cycle. Pressley is expected to run for the U.S. Senate seat currently held by Elizabeth Warren if Warren retires. Wu has been described as a potential candidate for the Senate, the House, or the presidential ticket.
The push for a wealth tax is modeled on Proposition 40 in California. That measure sought to impose a 4% tax on the net worth of individuals with assets exceeding $1 billion. Massachusetts legislators are considering a similar ballot initiative for two years from now. Proponents argue the revenue is necessary for public investment. Critics, including local business groups, warn that such a tax could drive high-net-worth individuals out of the state.
Simultaneously, Pressley and Wu are fighting against Question 3, a ballot measure that would implement open primaries. Under Question 3, the top two candidates in a primary, regardless of party affiliation, would advance to the general election. This system, often called a jungle primary, would allow voters to choose from all candidates rather than being restricted to their own party's nominee. Democratic incumbents argue that this system disadvantages them because it allows opponents from any party to compete for the general election slot without facing a partisan gauntlet first.
Pressley has publicly opposed Question 3, arguing that it would favor wealthy candidates who can afford extensive campaign spending. She stated that the measure would make elections more accessible to those with deep pockets. Wu has expressed similar concerns about the structural changes to the primary process. Both officials are expected to vote against the measure when it comes to a ballot vote.
The timing of these moves coincides with the lead-up to the 2026 midterm elections. National polls suggest Democrats are positioned to gain seats in the House of Representatives and potentially the Senate. However, internal party dynamics are shifting. Ocasio-Cortez is currently leading in early, unofficial polls for the 2028 Democratic nomination. Her rise in the polls has emboldened other candidates who favor progressive economic policies, including the wealth tax.
State Democratic leaders are scheduled to hold a series of town halls in October and November to explain the wealth tax proposal and the opposition to Question 3. The final language of the wealth tax measure will be determined by a joint legislative committee by the end of the year. If approved by the legislature, the measure will go to voters in the 2028 general election alongside the presidential race.
