New Analysis: Proposition 40 Could Raise Billions, but Poses Serious Tradeoffs
SACRAMENTO, CA — A new publication from the California Budget & Policy Center (Budget Center) examines Proposition 40, the Billionaire Tax Act, and what it could mean for California’s budget, public services, and long-term fiscal outlook. The analysis finds Prop. 40 — a first-in-the-nation 5% tax on the wealth of California’s roughly 250 billionaires, who … Continued