Oct 26, 2026
New polls show California Proposition 40 billionaire tax on track to fail
Two new polls indicate California's Proposition 40, which would impose a 5% one-time tax on the wealth of the state's approximately 250 billionaires, is headed toward defeat in the upcoming election. The polling decline comes amid reports of billionaires leaving the state and concerns from tax scholars about the measure's potential economic impact.
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