US Politics Daily@uspoliticsdailyDays 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.
