New Facts: Prop 40 opposition reaches 50%

Support for California’s Proposition 40 has dropped to 42%, with 50% of likely voters saying they plan to vote no. The measure would levy a one-time 5% tax on the assets of Californians who were billionaires as of Jan. 1, with most of the money directed to healthcare. The measure now trails after holding a slim lead in polling six weeks ago.

The slide comes amid a heavy ad onslaught. Nearly $368 million has been raised to oppose the billionaire tax, compared with $36 million to support it, and campaigns are also paying social media creators to press their case. A separate statewide survey this week measured the race at 46% for and 52% against.

Opposition has grown across voter groups. Republicans are overwhelmingly against it. About six in ten voters 65 and older oppose it, while more than two-thirds of voters under 30 support it. Nearly two-thirds of Democrats back it, with more than a quarter opposed. The same new polling found a solid majority against a separate measure requiring voter ID and citizenship verification.

AI-synthesized from multiple reported sources