ChordNews
← All news

Californians vote on a one-time tax on billionaires

By ChordNews · First written (updated )

Californians vote on billionaire tax to replace federal cuts in healthcare funding
Image: france24.com
Comments 0

Summary

Californians are voting Tuesday on Proposition 40, which would impose a one-time 5% tax on the wealth of residents worth more than $1 billion, with most of the revenue intended to replace federal healthcare funding cuts. If passed, California could become the first US state to tax billionaires’ net worth. Earlier coverage described a contentious campaign that split Democrats and drew opposition from the state’s super-rich.

This continues an earlier story: California voters will decide on a one-time 5% tax on billionaires, a fight that has split Democrats

Later: California billionaire wealth tax looks headed for defeat as votes are counted

Timeline

  1. France 24

    Source ↗

    France 24 reports that Californians are voting Tuesday on Proposition 40, a proposed one-time 5% tax on the net worth of residents above $1 billion, with most of the revenue intended to replace federal healthcare funding cuts.

  2. France 24

    Source ↗

    France 24 also reports that Californians are voting on a one-time tax on billionaires to fund the state's healthcare system.

Comments

No comments yet.

    to like and comment.

    © 2026 ChordNews