California voters reject billionaire tax proposal in early projections
California voters have rejected a proposed one-time tax on billionaires, according to early projections in the state's midterm election vote. With about 60% of ballots counted, the measure known as Proposition 40 was trailing by a clear margin, with the "no" side on 55.6% and the "yes" side on 44.4%. The proposal would have imposed a 5% levy on Californians with net worth above $1bn.The measure was designed to raise about $100bn, with most of the money earmarked for healthcare programmes. Education and food assistance would also have received funding under the plan. Supporters presented it as a response to... [Continue Reading]
360LiveNews | 10 Nov 2026 09:05 LONDON
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