California Billionaire Tax Trails as Union Vows to ReturnBillionaire Spending Helps Sink California’s Wealth TaxCalifornia Voters Reject Costly Billionaire Tax Campaign
On November 4, California Proposition 40 was losing, with 44.4% support and 55.6% opposition as about 60% of votes were counted. Its sponsor, SEIU-UHW, said it could put a billionaire tax before voters again in 2028.On November 4, California Proposition 40 trailed as votes were counted, while its union sponsor said it could try again in 2028. The measure would have taxed billionaires to support healthcare and other public services.On November 4, Proposition 40 was trailing in California, with 44.4% support and 55.6% opposition as about 60% of votes were counted. The union behind the proposed billionaire tax said it might bring the idea back in 2028.