Updated

California voters are deciding Proposition 40, a measure that would impose a one-time 5% tax on the net worth of residents worth more than $1 billion, on Tuesday, November 3, 2026. France 24 reported that most of the revenue would replace federal cuts to healthcare funding, and that the measure has divided liberal leaders nationally. It has also triggered one of the most expensive ballot fights in state history, as wealthy residents weigh whether to pay the tax or leave the state.