California Billionaires Tax Has a Slim Lead in New Poll, but Still ‘a Lot of Work to Do’

Politics California Billionaire Tax Has a Slim Lead in New Poll, but Still ‘a Lot of Work to Do’ While 52% of likely voters said they would vote yes on Proposition 40, they are also lining up behind two competing November ballot measures that could nullify the wealth tax. Sep 16, 2026 Updated 1:27 pm PT Marisa Lagos Healthcare workers and other supporters with the Billionaire Tax Now coalition hold placards during a media briefing in Los Angeles on April 27, 2026. Healthcare workers and allies outlined the next steps in their effort to get California's Billionaire Tax on the ballot for the November election, with their efforts already exceeding 1.5 million signatures collected across the state. The initiative would levy a one-time 5% tax on California billionaires. (Patrick T.