Tom Steyer Launches Campaign for California Governor, Centering on Affordability

Tom Steyer, billionaire philanthropist and former 2020 presidential candidate, is officially running for governor of California. Steyer announced his campaign this week and rolled out an economic plan aimed squarely at making the state more affordable for families and businesses.

His platform includes lowering utility bills, expanding access to preschool and building one million new homes over the next four years. Steyer, a major supporter of Proposition 50 with $12 million invested into the measure, says affordability is the defining issue facing Californians today.

“We need to continue to be the creative engine of the country and the world,” Steyer told NBC Palm Springs. “The issue isn’t the innovation, it’s how the money is getting shared. Over half of Californians are still living paycheck to paycheck. You go all over the Coachella Valley and you see people who are really struggling.”

Steyer’s entry into the race comes as early polling shows Republican and Riverside County Sheriff Chad Bianco leading the field with 13% voter preference, followed by Democratic contenders Katie Porter and Xavier Becerra.