A new poll indicates declining support for California’s proposed billionaire tax, Proposition 40, as Election Day approaches. According to a survey by the Public Policy Institute of California, 46% of 1,086 likely voters support the measure, while 52% do not. This marks a shift from last month, when proponents held a narrow 52% majority.
The billionaire tax is the most expensive and significant fight on the ballot. As of mid-October, wealthy individuals opposing the tax have raised over $205 million, including Sergey Brin, who has contributed at least $102 million. Despite this, supporters remain undeterred. Suzanne Jimenez, chief of staff for Service Employees International Union-United Healthcare Workers West, which backs the measure, stated in an email to CalMatters, “Even after months of the most controversial billionaires on the planet spending millions to spread misinformation about it, a clear majority of voters support asking about 250 billionaires to pay a modest, one-time tax to keep healthcare affordable for millions of Californians.”
Two related ballot measures, Prop. 42 and Prop. 41, also face uncertain outcomes. Prop. 42, which would bar new taxes on personal property and assets and prohibit retroactive taxes, has 51% support. Prop. 41, which would impose limits on certain new state taxes, appears to be falling short with 48% support.
Voters seem more favorable toward five other ballot measures. A majority of survey participants said they would vote yes on Prop. 1, the $11.25 billion housing bond; Prop. 2, which would increase the amount of tax revenue the state can put in savings; Prop. 3, which would permanently extend an income tax for high-earning households; Prop. 37, which would create a $25 billion fund to help homebuyers; and Prop. 38, which would dedicate $8 billion in bonds to fund immunology research.
For the governor’s race, Democratic candidate Xavier Becerra continues to lead with 61% of likely voters supporting him, compared to 37% for Republican Steve Hilton.
