California Proposition 2 Would Double Rainy Day Fund CapCalifornia Needs a Stronger Reserve Before the Next DownturnProposition 2 Gives Sacramento More Control Over Tax Surpluses
November 3, 2026: California voters will decide whether to let the state save up to 20% of general fund tax revenue, twice the existing limit, and use some funds to pay down federal unemployment insurance debt.November 3, 2026: Proposition 2 would let California save up to 20% of general fund tax revenue, helping build a buffer against volatile revenues and economic shocks.November 3, 2026: California voters will consider a measure that doubles the rainy day fund cap and could let lawmakers retain money otherwise available for taxpayer refunds.