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California voters reject Prop 40 billionaire tax

California voters reject Prop 40 billionaire tax
Photo: LAist (KPCC / Southern California Public Radio) · view original

Campaign signs in support of Proposition 40 and opposing Propositions 41 and 42 at a rally in Los Angeles on Oct. 5, 2026. (Jae C. Hong / AP Photo) California will not become the first state to levy a wealth tax on its richest residents — at least not this election. Voters rejected Proposition 40...

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