California voters are considering Proposition 40, which would impose a one-time 5% tax on the wealth of residents with net worths above $1 billion. Most of the revenue would go toward replacing federal healthcare funding cuts. The measure could make California the first U.S. state to tax billionaires’ net worth.
Reporting from 2 identified publishers across this event arc.
These publishers contributed reporting to the broader event history. Not every source addresses the specific development described above.
How this brief is built: The BriefBrief correlates multiple sources into one evolving event brief, updated as new facts emerge.
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