Billionaire tax explained: What you need to know about Prop. 40
Proposition 40 proposes a one-time tax on billionaires. Supporters and opponents disagree on the potential economic consequences, including the risk of tax flight.
Proposition 40 would levy a one-time tax on billionaires. Some say the initiative opens the door to tax flight and more aggressive taxation. Others say there’s no way to predict the outcome.
READ NEXT
More on the wire
AI TLDR
A Ceres man was convicted of felony DUI and reckless driving causing serious bodily injury after a March 2025 incident where he drove nearly 100 mph.
AI TLDR
Modesto police are investigating a crash on Claus Road, which has resulted in road closures at Briggsmore Avenue and Scenic Drive.
AI TLDR
A vehicle collision involving a tractor-trailer carrying flammable liquid caused traffic delays on Interstate 5 near Lathrop.