Billionaire Tax Trails in California Count
More than four million votes remain uncounted in the race to decide Proposition 40.
By Olivia Miller ·
California voters are still deciding whether to impose a one-time 5% tax on the state's billionaires to fund healthcare. Days after the midterm elections, the measure remains undecided. Current tallies show the proposal failing by more than 8 percentage points statewide.
The Associated Press reports that more than 4 million votes are still being counted. This total includes over 500,000 ballots from Los Angeles County. In that district, the yes vote currently leads by more than 7 percentage points.
Support for the billionaire tax has solidified in nine counties. These are Alameda, Humboldt, Los Angeles, Mendocino, Monterey, San Francisco, Santa Cruz, Sonoma, and Yolo. Los Angeles is the only Southern California county currently leaning toward a yes vote.
Two other measures could alter the outcome of the billionaire tax. Propositions 41 and 42 would change the state's rules for enacting new taxes. If Proposition 40 passes, but either of these competing measures receives more yes votes, the billionaire tax would not become law.
As of Friday, Proposition 41 was trailing by more than 7 points. Proposition 42 was ahead by more than 6 points. Proposition 41 would require audits for new state special taxes. Proposition 42 would bar new taxes on retirement holdings and personal savings.
A late October poll indicated that voter opposition to Propositions 41 and 42 increased while support for the billionaire tax dropped. Backers of the two competing measures also campaigned against Proposition 40.
The campaign for Proposition 40 raised nearly $35 million. Most of this funding came from the Service Employees International Union-United Healthcare Workers West, the union that proposed the tax. The combined backing for Propositions 41 and 42 raised more than $300 million. Most of that money came from the billionaires subject to the proposed tax.
