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The California State Capitol in Sacramento.

California Billionaire Tax Faces Defeat as Voters Reject Prop 40

Photo: Andre m, CC BY-SA 3.0, via Wikimedia Commons California voters appear to have rejected Proposition 40, the nation's first tax on billionaires' assets, in a stunning rebuke to progressive…

ReportRig.com November 6, 2026

California State Capitol in Sacramento, California

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California Billionaire Tax Heads for Defeat as Voters Reject Prop 40

California Proposition 40 results billionaire tax show the measure heading for defeat, with 44.31 per cent voting yes and 55.69 per cent voting no in semi-official returns, according to the…

ReportRig.com November 4, 2026

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California Billionaire Tax: Proposition 40 Divides Democrats

The California billionaire tax Proposition 40 asks voters on Tuesday whether the state should impose a one-time 5 per cent tax on the worldwide assets of California residents with at…

ReportRig.com November 3, 2026