California voters to decide on Proposition 40 billionaire wealth tax; new poll shows close race

California voters will decide in November whether to adopt Proposition 40, a ballot measure that would impose a new tax on billionaires' wealth. A new poll finds likely voters closely divided, with 46% in favor and 43% opposed. Backers say the measure would deliver substantial benefits, though some progressives oppose it. Supporter Ro Khanna argues that billionaires' wealth, not just income, should be taxed, and calls the measure the most important ballot initiative in America.

Alternative / independent outlets had not reported this story at the time of writing, while left-leaning and right-leaning outlets had. Left-leaning coverage centers on the substance and politics of the proposal: The Guardian US runs Khanna's argument that it is a choice for Democrats between working-class and tech-wealth interests, while CBS News examines whether the tax would deliver what backers promise and why some progressives object. Right-leaning coverage, from the New York Post, leads with the poll. Its headline describes the measure as facing collapse, though the figures cited show support narrowly ahead of opposition.