California's proposed one-time tax on billionaires is losing. Proposition 40 had 47.1% yes and 52.9% no in the secretary of state's statewide results as of 5:14 p.m. Monday, Nov. 9, a gap of about 630,000 votes with every precinct reporting.
The measure would have charged a 5% tax on certain taxpayers with more than $1 billion in assets, with the money going mainly to health care. The state's official voter guide estimated a temporary revenue increase of tens of billions of dollars spread over several years. Sen. Bernie Sanders and SEIU United Healthcare Workers West backed it. The California Taxpayers Association, the California School Boards Association and the California Primary Care Association opposed it.
The results are not final. Mail ballots postmarked by Election Day still count if they reach county offices by Nov. 10, counties have until Dec. 3 to certify, and the secretary of state certifies the statewide results on Dec. 11, according to the state's key dates.
All 14 statewide measures
| Prop. | What it does | Yes | No |
|---|---|---|---|
| 1 | Housing affordability bonds | 61.1% | 38.9% |
| 2 | Larger rainy day fund | 61.4% | 38.6% |
| 3 | Extends the existing tax on high incomes for schools and health care | 60.6% | 39.4% |
| 4 | Repeals the ban on public financing of election campaigns | 49.7% | 50.3% |
| 5 | Changes the recall process for statewide officers | 52.0% | 48.0% |
| 37 | Loans for middle-income buyers of new homes | 62.3% | 37.7% |
| 38 | Immunology research bonds | 54.1% | 45.9% |
| 39 | Government-issued ID required to vote | 39.4% | 60.6% |
| 40 | One-time 5% tax on billionaires | 47.1% | 52.9% |
| 41 | Bars new state taxes kept outside the spending limit, adds audits | 45.2% | 54.8% |
| 42 | Bars new state personal property taxes and some retroactive taxes | 51.7% | 48.3% |
| 43 | Limits voters' power to raise local revenue | 42.8% | 57.2% |
| 44 | Community health clinics must spend 90% of revenue on programs | 18.0% | 82.0% |
| 45 | Changes environmental review for certain projects | 43.9% | 56.1% |
The close ones
Proposition 4 is the tightest race on the ballot. It trails by 64,804 votes out of more than 10.6 million cast on it.
Proposition 5, on recalls, leads by about 421,000 votes, and Proposition 42, on state property taxes, by about 368,000, the two narrowest leads among the measures that are passing.
Proposition 3, which extends an existing tax on high incomes, is passing with 60.6%, while Proposition 41, which would have barred new state taxes kept outside the spending limit, trails 45.2% to 54.8%.
