Story perspectives

Proposition 40 Billionaire Tax Faces Split Labor, Political Vote

7/31/2026

Summary

Story summary

Proposition 40, a 5% billionaire tax, faces a Democratic Party endorsement vote Saturday and a labor federation vote Aug. 4, with SEIU staying neutral.
The California Council of Laborers, United Domestic Workers and Police Chiefs oppose the tax, citing fiscal risks.
Teamsters California and AFSCME California back the tax, with polls showing 80% Democratic support.
Sergey Brin gave $82 million to the anti-tax group while Gov. Gavin Newsom opposes it.

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Story summary

Proposition 40, a 5% billionaire tax, faces a Democratic Party endorsement vote Saturday and a labor federation vote Aug. 4, with SEIU staying neutral.
The California Council of Laborers, United Domestic Workers and Police Chiefs oppose the tax, citing fiscal risks.
Teamsters California and AFSCME California back the tax, with polls showing 80% Democratic support.
Sergey Brin gave $82 million to the anti-tax group while Gov. Gavin Newsom opposes it.