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Proposition 40
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California billionaire wealth tax on ballot, split
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Latest: California's Proposition 40 billionaire wealth tax sparks political split
Proposition 40, a one‑time 5 % wealth tax on California residents whose net worth is at least $1 billion, was certified on June 26 2026 for the Nov 3 2026 ballot. The measure would apply to roughly 200‑250 of the state’s