# California voters consider proposition to tax billionaires’ wealth

- URL: https://talkfuse.com/story/california-voters-consider-proposition-to-tax-billionaires-wealth/
- Published: 2026-11-03T17:04:13+00:00
- Updated: 2026-11-03T23:40:21+00:00
- Original publisher: PBS NewsHour
- Original article: https://www.pbs.org/newshour/politics/california-voters-consider-proposition-to-tax-billionaires-wealth
- Topics: Elections, Politics

## Key points

- Proposition 40 would levy a one-off 5% tax on billionaires’ wealth.
- Supporters say the money could help cover healthcare funding cuts.
- A mid-October poll found 52% opposed and 46% in favour.

## Summary

California voters are considering Proposition 40, which would impose a one-off tax on the wealth of residents worth more than $1 billion. The proposal has split Democratic figures and groups: supporters say it could help replace federal healthcare funding cuts, while opponents warn wealthy residents may leave and weaken state revenues.

The tax would be 5%, and its backers estimate California will lose $100 billion in federal healthcare funding over five years. In a mid-October poll, 52% of likely voters opposed the measure and 46% supported it, reversing the figures from an early September poll. Even if voters approve it, either of two competing ballot measures could prevent it taking effect.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.