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California’s controversial billionaire tax looks headed for defeat

California
New York Post Fews App News Provider
Fews App Post Time ha 5h

California’s bitterly contested billionaire tax appeared to be heading for defeat Tuesday night after a vicious campaign that split Democrats, sent Silicon Valley tycoons scrambling to leave the state and sparked a $330 million-plus war to kill the proposal. Proposition 40, which would slap a one-time 5% tax on billionaires’ wealth, was trailing by 56% to 44% with roughly half the ballots counted shortly after 9 p. m.

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