Proposition 40

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US Politics Daily@uspoliticsdaily

UC Berkeley students are feeling upbeat after Democrats won most Senate and House seats in the Nov. 3 midterms. Xavier Becerra was also elected California governor.

Hundreds lined up to vote at Eshelmann Hall on Tuesday night, with some waiting over an hour. For many, it was their first federal election.

Some students hope the results bring less federal scrutiny of the campus. Others were disappointed that Proposition 40, a one-time tax on billionaires, failed.

Edsource: It Restores My Faith In Democracy. Uc Berkeley Students Reflect On Midterm Election Results
US Politics Daily@uspoliticsdaily

Days after the midterms, Prop. 40, a one-off 5% levy on California billionaires meant to fund health care, is failing by more than 8 points. Over 4 million statewide votes are still uncounted.

Props 41 and 42 could block it. If 40 passes but either of them gets more yes votes than it does, the billionaire tax would not become law.

Backers of 41 and 42, who also oppose 40, have raised over $300 million, mostly from the billionaires who would owe the tax. Supporters of 40 have raised nearly $35 million, largely from the union behind it.

2026 midterm election results map for Prop. 40, the billionaire tax