PoliticsCalifornians vote on billionaire tax to replace federal healthcare cuts

California could become the first US state to tax billionaires’ net worth on Tuesday. Proposition 40 would impose a one-time 5% levy on Californians worth more than $1 billion, with most proceeds going toward replacing federal healthcare funding cuts. The measure has divided liberal leaders and sparked one of the state’s costliest ballot fights as the ultra-rich weigh paying or leaving.

Californiabillionaire taxProposition 40healthcare funding

FFrance 24★★★☆☆2026-11-03 10:49Original