California Wealth Tax Measure Holds Narrow Lead in Latest Poll

A recent poll in California suggests that Proposition 40, a proposed wealth tax on billionaires, is narrowly ahead in public support.

The one-time 5% tax on the wealth of billionaires has seen fluctuating support in prior polls, occasionally surpassing the 50% mark necessary for a ballot measure to appear viable.

The initiative is primarily backed by labor groups such as SEIU-UHW and has been met with opposition from Governor Gavin Newsom and business groups.