2026 California Proposition 40
Proposition 40, also known as the California billionaire tax or California wealth tax, is a combined initiated constitutional amendment and state statute appearing on the November 3, 2026, ballot in the state of California. If Proposition 40 is approved by voters, the state's billionaires would pay a one-time 5% tax on their accumulated wealth. Revenue from the tax would primarily fund state healthcare programs, with a smaller portion going toward food assistance and public education. Proposition 40 was sponsored by the labor union SEIU United Healthcare Workers West.
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