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Why the billionaire tax can win but still fail

Billionaires really don’t want voters to pass Proposition 40.

Cali Reporter staff · September 24, 2026
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Why the billionaire tax can win but still fail
Why the billionaire tax can win but still fail

Billionaires really don’t want voters to pass Proposition 40. Not only have they poured more than $187 million so far to try and defeat the measure, they’ve also placed two other measures, Prop.

41 and Prop. 42, on the November ballot.

Original reporting: CalMatters.

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