A September 2026 poll of likely California voters shows that 52 percent would back Proposition 40, a measure that would impose a wealth tax on the state’s billionaires. The same respondents also indicated support for two separate ballot initiatives slated for the November election that aim to overturn the proposed tax.
Proposition 40 is designed to levy an additional tax on individuals whose net worth exceeds a defined threshold, with the revenue intended for public programs. The competing November measures, while not detailed in the poll, are positioned to repeal or block the implementation of the wealth tax if it passes.
The polling results reveal a split stance among voters: a narrow majority favoring the billionaire tax while simultaneously endorsing measures that could nullify it. This dual preference suggests that Californians are weighing the potential benefits of additional revenue against concerns about the tax’s impact or feasibility.
Election officials have confirmed that the two repeal initiatives will appear on the same November ballot as Proposition 40, giving voters the option to approve the tax and later decide whether to keep or discard it through the separate measures. The outcome will depend on how voters interpret the combined choices when they cast their ballots.
Analysts note that the poll reflects a nuanced public attitude toward wealth taxation, with a modest edge of support for the policy but an equally strong inclination to retain the ability to reverse it. The final November vote will determine whether the wealth tax moves forward or is blocked by the accompanying repeal measures.
The poll’s findings underscore the complexity of voter sentiment on fiscal policy in California, highlighting both a willingness to consider new revenue streams and a desire for safeguards against unintended consequences.