Bombshell new poll shows major shift in California wealth tax vote

California’s explosive billionaire tax battle is tightening dramatically just weeks before voters decide whether to slap the state’s wealthiest residents with a one-time 5% levy on their fortunes.A new UC Berkeley Institute of Governmental Studies poll, co-sponsored by the Los Angeles Times, found Proposition 40 clinging to a razor-thin advantage among likely voters — with 45% supporting the measure, 42% opposed, and a potentially decisive 13% still undecided.That marks a noticeable slide from six weeks earlier, when the poll found 48% backing the proposal and 41% against it.  The biggest news, opinion and culture shaping California right now.Please provide a valid email.

By clicking above you agree to the Terms of Use and Privacy Policy.Never miss a story The shift comes amid a massive advertising war over the measure, which has become one of the most closely watched fights on California’s packed Nov.

3 ballot.Proposition 40 would impose a one-time tax equal to 5% of the net worth of billionaires who were California residents as of Jan.1, 2026.

The measure is designed primarily to raise money for healthcare programs amid anticipated federal funding cuts, with additional revenue earmarked for education and food assistance.But the tax has triggered fierce pushback and opponents have poured huge sums into the campaign.Mark DiCamillo, director of the Berkeley IGS poll, said voters appear concerned about economic inequality while remaining wary of an unprecedented tax targeting assets rather than simply income.“When you’re going about taxing the billionaires’ assets, I mean that’s something kind of new and different, and it’s risky, and the governor’s against it,” DiCamillo told the Times, adding that many voters are approaching the proposal cautiously.One California businessman is warning the measure could send wealthy residents racing for the exits. Eric Schiffer, chairman of family off...