California voters reject proposed one-time tax on billionaires' wealth
Summary of 6 reports
Proposition 40, which would have imposed a 5% tax on billionaires' net worth to fund healthcare, was defeated by California voters following the most expensive tax-related campaign in state history. The measure split Democrats and faced opposition from politicians, a teachers union, and tech billionaires who spent hundreds of millions on attack ads against it.
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California voters reject new tax on billionaires in a blow to the left (opens NBC News in a new tab)
NBC News projects that Proposition 40, which split Democrats in the state and nationally, failed after facing a barrage of attack ads.
Billionaire tax rejected on concern squeezing California's ultra-rich would harm the economy (opens Los Angeles Times in a new tab)
Supporters of Proposition 40, a proposal to tax California billionaires to mostly fund healthcare, faced opposition from politicians, a teachers union and other powerful groups before residents casted their votes.
California voters reject billionaire wealth tax, CBS News projects (opens CBS News in a new tab)
Voters in California have rejected a tax on the state's wealthiest residents, CBS News projects, following a campaign that has split traditional allies and shattered spending records for a tax-related measure in California.
California voters fail to pass proposed one-time tax on billionaires’ wealth (opens The Guardian in a new tab)
Campaign over Prop 40, as measure was known, was most expensive in state history, flush with Silicon Valley dollars California billionaires won a contentious ballot measure campaign, defeating a proposed one-time tax on their wealth. The bruising campaign…
California voters defeat billionaire tax proposal that divided Democrats (opens NPR in a new tab)
The novel proposal would have charged billionaires a one-time 5% tax on most of their overall wealth, including their ownership in companies.
California voters reject proposed one-time tax on billionaires' wealth (opens France 24 in a new tab)
California voters have rejected a proposed 5% tax on the net worth of billionaires, handing a victory to tech leaders who poured hundreds of millions of dollars into defeating the measure. The defeat of Proposition 40 also marks a setback for progressives…
