More Than $351 Million Invested in California’s Proposition 40 Fight

Opponents of California's Proposition 40 account for most of more than $351 million invested in the ballot fight, as the proposed one-time billionaire tax approaches a Nov. 3 vote.

The more than $351 million total covers both sides, while the $300 million figure in earlier coverage of the campaign covered the opposition effort alone.

Proposition 40 would impose a one-time 5% tax on net worth above $1 billion, with the proceeds earmarked for health care. SEIU United Healthcare Workers West backs the measure.

Propositions 41 and 42 are competing ballot measures that could complicate Proposition 40’s path to taking effect if they draw more support. California voters are scheduled to decide on the measures Nov. 3.