It was too early to call Wednesday morning the vote for a measure on the California ballot that would tax the net worth of billionaires.
Proposition 40 would impose a one-time 5% tax on the wealth of Californians whose net worth exceeds $1 billion. Most of the revenue would replace federal funding cuts to healthcare, the Associated Press reported.
With 6 million votes remaining uncounted in the state, the Associated Press was waiting before declaring an outcome.
On Wednesday morning, 55% of the 7.7 million votes counted were opposed to the measure.
The Facts Inside Our Reporter's Notebook
Links
Source link
