Press coverage, statements, and updates on Prop 40.
“…this initiative is the wrong approach. It lacks accountability, fails to provide a sustainable funding solution, and risks making California’s budget challenges worse.”
“… I don’t think it’s going to be a one-time tax… I’m not there to pretend that it’s one, once, and never again.”
“California’s best hope for keeping its tax base is for voters to reject the ballot measure so decisively that would-be wealth-taxers are afraid to ever try it again.”
“Taxing billionaire residents to resolve this problem poses major risks.”
“The more people know about the ‘billionaire tax,’ the less they like it.”
“This proposal carries far too much legal and administrative risk, diverting attention from the sustainable reforms that are needed to protect critical public services in California.”
“…[Prop 40] would leave the state worse off by an estimated $25 billion once lost income tax revenue…”
“…the proposed wealth tax is both nonsensical and counterproductive.”