California Tests Billionaire Tax Ahead of National Push

WHO:

NY Post - California Governor Gavin Newsom, GOP members, Hollywood elites, tech billionaires, and a coalition opposing the billionaires' tax.

Truthout - Organizers advocating for Proposition 40.

WHAT:

NY Post - A billionaires' tax is set to appear on the California ballot next month.

Truthout - Proposition 40 aims to generate funding for health care, education, and food assistance programs.

WHERE:

NY Post - California.

WHEN:

NY Post - The billionaires' tax will be on the ballot next month.

WHY:

Truthout - The motivation behind Proposition 40 is to provide funding for essential services such as health care, education, and food assistance.

HOW:

Truthout - Proposition 40 is being organized and promoted by advocates who believe it is time to tax the 200 billionaires residing in California.

(UPDATED October 17, 2026 21:59 UTC)

A billionaires' tax is set to appear on the California ballot next month, backed by Governor Gavin Newsom, GOP members, Hollywood elites, and tech billionaires who oppose it. Proposition 40, organized by advocates, aims to generate funding for essential services like health care, education, and food assistance programs. The push for this tax comes as supporters emphasize the need to tax the 200 billionaires residing in California to help fund these vital initiatives.