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The California Billionaire Tax Act (Proposition 40), which imposes a one-time 5 percent tax on billionaires’ net worth, is vulnerable to numerous constitutional challenges, any of...
“California’s Democratic Party has endorsed the state’s proposed billionaire tax, marking a win for its advocates three months before Californians vote on the measure,” the Wall St...
How to prepare before the November 2026 ballot.
The California Democratic Party executive board voted Sunday to endorse Proposition 40, the one-time 5% wealth tax on billionaires. It needed a second vote to clear the 60% thresho...
“Californian billionaires have poured nearly $40 million in fresh money into the campaign against a proposed wealth tax that will be on the state’s ballot this November,” the Finan...
The California Budget & Policy Center has a new report, “Billionaire Tax Explained: What Proposition 40 Would Mean for California” (Aug. 2026). Here is the “key takeaway”: Prop...
California readies intrusive audits for billionaires who fled ahead of Prop. 40's November vote
The California Billionaire Tax Act’s residency provisions are exceptionally vulnerable to legal challenge. Even if the tax passes and survives challenges to its broader constitutio...
In November, California will vote on a proposal to levy a one-off 5% tax on the wealth of all billionaires in the state. Google co-founder and billionaire Sergey Brin has already s...
Mark Cuban thinks that everyone wants his money. So joked the entrepreneur on a recent episode of the Pivot podcast, explaining his recent online back-and-forth with U.S. Repres...
Billionaires have amassed a nine-figure war chest to defeat Proposition 40 as polls show California voters are nearly split on the one-time tax.
With the top 1% holding nearly one-third of household wealth in the U.S., efforts to impose new levies on the wealthy have been gaining traction. In California, voters will decide...
A group funded by Google co-founder Sergey Brin and other billionaires gave $5 million to a group opposing Proposition 40. What it means for the fight over the proposed California...
The California vote could set a precedent for wealth tax policies nationwide, influencing future debates on economic inequality and redistribution. The post California billionaire...
Erin Fraser, a former student, has created an annotated version of California’s proposed 2026 Billionaire Tax Act, one of two major “tax-the-rich” measures that are on the ballot f...
The California Democratic Party backed Prop. 40, a 5% billionaire tax for healthcare, despite heavy pushback from Newsom and labor leaders.
The endorsement could reshape fiscal policy debates, highlighting tensions within the party and influencing future tax reform discussions. The post California Democrats back billio...
The architect behind a new initiative saw no path to passing a wealth tax through the legislature. Instead, he’s taking it to California voters, sparking an expensive political fig...
California's Prop 40 would impose a one-time 5% tax on the net worth of the state's billionaires.
Tech billionaires in California are fighting a proposed one-time wealth tax. A Google co-founder is leading the charge against the tax, which would generate revenue for health-care...
The executive board for Service Employees International Union California voted Wednesday to take a neutral position on the tax, which will appear on the ballot as Proposition 40.
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