Taxes November 5, 2026
Since the Golden State’s powerful healthcare union proposed the new tax, supporters of Proposition 40 have faced a fierce, expensive battle against the world’s richest people.
Taxes November 4, 2026
Rep. Ro Khanna, who represents parts of Silicon Valley, promised that he would fight for another wealth tax in 2028 if the proposition fails.
Taxes November 4, 2026
A proposed first-in-the-nation wealth tax on California’s billionaires trailed in early returns Tuesday after a contentious campaign that saw heavy spending by wealthy opponents.
Taxes November 2, 2026
The billionaires targeted by the wealth tax on the November ballot include owners of some of California's top sports teams and, among them, there will be winners and losers if voters approve the measure.
Taxes October 30, 2026
A billionaire-backed group fighting Proposition 40 spent more than $50 million over the past week on efforts to thwart the wealth tax.
Taxes October 29, 2026
As California decides whether to slap billionaires with a special tax, the Golden State's swarm of social media stars is chiming in—and increasingly getting paid to influence voters.
Taxes October 28, 2026
Support for California’s proposed one-time billionaire tax has fallen to 46%, with 52% opposed, as a new PPIC poll finds several closely watched ballot measures struggling ahead of Election Day.
Taxes October 22, 2026
Meta negotiated a new stock deal to keep CEO Mark Zuckerberg in the state in case the wealth tax passes.
Taxes October 16, 2026
Four academics led by Emmanuel Saez designed California’s Proposition 40 billionaire tax, sparking fierce debate over inequality, enforcement and economic impact.
Taxes October 14, 2026
California Gov. Gavin Newsom just got behind a ballot initiative that, if passed, would act as a kill switch for Proposition 40, also known as the billionaire wealth tax.
Taxes October 9, 2026
St. Rose Hospital workers staged a “die-in” at the facility and urged voters to pass the billionaire tax measure, Proposition 40, on the November ballot.
Taxes September 28, 2026
Critics of a proposed wealth tax on California billionaires—many of them business executives who would be subject to the tax—have outspent Proposition 40 backers more than 5-to-1, according to campaign filings.