PoliticsCalifornia voters to decide on proposed ‘billionaire tax’

California voters are about to decide whether to approve Proposition 40, a one-time 5% tax on the net worth of the state’s billionaires to fund healthcare improvements. Supporters say it could offset federal funding cuts; opponents, including Governor Gavin Newsom, warn wealthy residents may leave. A poll found voters divided, with 45% in favour and 42% opposed.

Californiabillionaire taxProposition 40healthcare

BBBC News★★★☆☆2026-10-23 23:11Original