California Proposition 40 Election Results: Billionaire Wealth Tax

The New York Times · The New York Times · 2026-11-06 13:00 UTC

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California Proposition 40 Election Results: Billionaire Wealth Tax

Imposes a one-time 5 percent tax on individuals and trusts with over $1 billion in assets, and allocates the resulting revenues to fund health care, food assistance and education.

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