Create account

Coverage dated November 6, 2026 to November 11, 2026

California wealth tax on billionaires fails despite blue wave, in blow to progressives

Headline from FOX Business

Governor Gavin Newsom urged voters to reject Proposition 40, citing its narrow spending focus, as California's billionaire wealth tax fell 52.8% to 47.2%.

FOX Business's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.

Read the reports

Reports & sources

5 articles, oldest first.

  1. Townhall

    California May Reject Its Wealth Tax, but Democrats’ Blue Wave Could Take the Idea Nationwide (opens Townhall)

    Published

  2. NPR

    Why did California's billionaire tax fail to surf the blue wave? (opens NPR)

    Published

    NPR's feed description

    Two economists debate what California's vote on Prop 40 means for the wealth tax movement.

  3. FOX Business

    California wealth tax on billionaires fails despite blue wave, in blow to progressives (opens FOX Business)

    Published

    FOX Business's feed description

    Governor Gavin Newsom urged voters to reject Proposition 40, citing its narrow spending focus, as California's billionaire wealth tax fell 52.8% to 47.2%.

  4. Above The Law

    Why Blue California Voters Rejected Implementing The Nation’s First Wealth Tax (opens Above The Law)

    Published

    Above The Law's feed description

    Even though Proposition 40 failed, the billionaires should remain on high alert.

Identical headlines usually mean shared wire copy. They are counted as separate articles but are not independent confirmation.

California wealth tax on billionaires fails despite blue wave, in blow to progressives | Since Then