(KRON) -- Proposition 40 is also known as the Billionaire's Tax. Supporters framed it as a monumental step toward reining in deep wealth inequality. Critics say it will trigger wealthy people to flee the state. Google co-founder Sergey Brin donated more than $100 million to a political committee working to defeat the proposal.
Regional Transit Measure (RTM) election results
The first-in-the-nation measure would levy a one-time, 5% tax on the wealth of Californians whose net worth exceeds $1 billion. Most of the money would be used to backfill federal funding cuts to healthcare.
New poll reveals how voters feel about California ‘billionaire tax’ as election looms
Proposition 39 would block citizens from voting unless they present a government-issued identification card when voting in person, and the last four digits of a government ID number when voting by mail.
Watch this page for Prop 40 election results when the polls close at 8 p.m. on Tuesday, Nov. 3, 2026.
