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Top execs from California’s largest companies blast state’s wasteful spending in ‘explosive’ ad

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Cite

Jerkovich, K. (2026, October 8). Top execs from California’s largest companies blast state’s wasteful spending in ‘explosive’ ad. New York Post. https://nypost.com/2026/10/07/us-news/california-business-leaders-warn-voters-of-upcoming-tax-bomb-in-new-ad/

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New York Post · collected 2026-10-08 · by Katie Jerkovich

Quick Summary

California’s top business leaders have released an ad through a coalition called Californians Against Wasteful Spending and Higher Taxes to warn voters about upcoming tax measures in November. The “explosive” ad uses dramatic visuals of a bomb disposal operation to highlight concerns over new state and local taxes, emphasizing that California is already the highest taxed state with spending increasing by 79% since 2019. Rob Lapsley from the California Business Roundtable, representing CEOs of major companies with over half a million employees, explains the aim is to draw attention to how ongoing tax hikes are making California less affordable and potentially driving businesses away.
Written by AI on 2026-10-08, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

Story summary

Californians Against Wasteful Spending and Higher Taxes, a coalition including California Business Roundtable executives, released an ad warning about impending tax increases in November's ballot. The ad uses dramatic visuals of a bomb squad to highlight what they call a "tax bomb" threatening the state. They point out that California has lost over $31 billion to unemployment insurance fraud and spent nearly $230 billion on the High-Speed Rail project, originally budgeted at $33.5 billion. Additionally, $37 billion was allocated for homelessness with little accountability as the crisis worsened. Despite this spending, issues such as homelessness, deteriorating roads, and underperforming schools persist, leading to an exodus of about 2 million people who have left for states like Texas and Florida. The ad urges voters to reject higher taxes in November's elections.

Written for “California Spending Criticism” on 2026-11-02, grounded in this article and the 0 other(s) covering the same event.

Story

📰 California Spending Criticism
Politics · 1 article(s) covering the same event.

Compared with similar articles

This article reads leans strongly right and hedges 5% of its claims. Each row says how that neighbour differs.
Washington Examiner
Hedges 0 of 2 claims Outlet record 70/100
“Article A discusses an ad campaign warning about multiple upcoming tax measures across California, while Article B specifically addresses the consequences of a single 'mansion' tax in Los Angeles.”
Fox News
Hedges 1 of 27 claims Outlet record 69/100
“The articles describe different ballot measures and ad campaigns with distinct messaging.”
How this article was measured signals, leaning charts, publisher record, byline, topics and claims

Signals How these are calculated →

Claims extracted
22
sentences that state something as happening or true
Uncertain
5%
1 of 22 hedged ("reportedly", "may", "according to")
Leaning
Leans strongly right
of the writing, not the subject · beta estimate
Publisher signals
66/100
New York Post's corrections and hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Politics
Same framing elsewhere
1
articles that frame the event the way this one does
Analyzed 2026-10-08 · how these are computed

How this is being covered How these are calculated →

Article leaning vs. publisher reliability
Source leaning vs. consistency

Publisher

New York Post · 16008 article(s) · 35 correction(s) detected
Running correction rate · 35 correction(s)

Who wrote this

Katie Jerkovich
57 article(s) here · 1 carrying a prediction
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Also by Katie Jerkovich
Nothing else under this byline is closely related to this article, so these are simply their most recent.
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Topics

California Californians Against Wasteful Spending and Higher Taxes Sacramento Texas the California Business Roundtable

Subjects

California GPE · 7× Sacramento GPE · 4× Lapsley PERSON · 2× the California Business Roundtable ORG · 2× Californians Against Wasteful Spending and Higher Taxes ORG · 1× Florida GPE · 1× Rob Lapsley PERSON · 1× Texas GPE · 1× The California Post ORG · 1× the Coalition for California ORG · 1×

Narrative

The group points to: $31 billion lost to unemployment insurance fraud. $230 billion spent on the High-Speed Rail project, up from its original $33.5 billion budget. $37 billion spent on homelessness, which the group says came with zero accountability as the crisis worsened. The group argues that despite the enormous spending, California continues to struggle with homelessness, deteriorating roads and underperforming schools.
framing: assertive · carried by 1 article(s) · first seen 2026-10-08
🔮 The “explosive” new spot from the Californians Against Wasteful Spending and Higher Taxes coalition uses a fake bomb-squad raid to warn voters about the hundreds of new state and local taxes expected to appear on November’s ballot.

Claims (22 extracted, 1 hedged)

California’s business heavyweights are warning residents that Sacramento politicians are preparing to drop a “tax bomb” on the state — and they’ve released a new ad to make the point. asserted
they → warn → point
The “explosive” new spot from the Californians Against Wasteful Spending and Higher Taxes coalition uses a fake bomb-squad raid to warn voters about the hundreds of new state and local taxes expected to appear on November’s ballot. asserted
spot → use → ballot
The entire state could get destroyed.” uncertain
state → destroy → ?
The ad mentions that roughly 2 million people have “evacuated” — those who have already left California for states including Texas and Florida in recent years. asserted
who → mention → years
The message then identifies the culprit as a “group called the politicians,” accusing them of demanding more taxpayer money for “programs even if they all fail.” asserted
they → identify → programs
The ad ends with a simple message to voters: “No to higher taxes.” asserted
ad → end → taxes
Rob Lapsley, president of the California Business Roundtable, told The California Post that the goal is to get voters paying attention before Election Day. asserted
voters → tell → Day
The key is that they understand what’s coming,” Lapsley said. asserted
Lapsley → understand → ?
“We are the highest tax state in the country and all we are doing is continuing to pass taxes.” asserted
we → do → taxes
Lapsley said the tax hikes are at odds with the constant political focus on affordability and California’s sky-high cost of living. asserted
hikes → say → living
“Everybody talks about affordability and the cost of living but then all you do is see more taxes. asserted
you → talk → taxes
And when you keep piling on more taxes all you do is make California more unaffordable.” asserted
California → keep → taxes
He said the broader concern is whether businesses can continue creating jobs and keeping workers in the state. asserted
businesses → say → state
The California Business Roundtable represents CEOs and top executives of some of California’s largest companies, spanning a combined workforce of over 500,000 employees. asserted
Roundtable → represent → employees
He said the message he hopes people come away from the ad with is that it’s about “jobs and being able to grow jobs and keep California affordable for our employees.” asserted
it → say → employees
The coalition argues that Sacramento has already had plenty of taxpayer money to spend. asserted
Sacramento → argue → money
“In the last five years, Sacramento blew through a $100 billion surplus on a reckless spending spree, with billions of taxpayer dollars lost to waste and fraud. asserted
Sacramento → blow → waste
State spending increased by 79% since 2019,” a message on the coalition’s website reads. asserted
message → increase → website
“New taxes won’t solve the problem. asserted
taxes → solve → problem
They’ll make it worse by driving away jobs, revenue, and opportunity, ultimately hitting regular people and businesses the hardest.” asserted
it → make → people
Another business-backed group, the Coalition for California, has also been hammering Sacramento over its spending. asserted
group → back → spending
The group points to: $31 billion lost to unemployment insurance fraud. $230 billion spent on the High-Speed Rail project, up from its original $33.5 billion budget. $37 billion spent on homelessness, which the group says came with zero accountability as the crisis worsened. The group argues that despite the enormous spending, California continues to struggle with homelessness, deteriorating roads and underperforming schools. asserted
California → point → homelessness
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