PPIC Poll Shows Majority Support for California Billionaire Tax

A Public Policy Institute of California (PPIC) poll of 1,103 likely voters shows that 52% support Proposition 40, a proposed one-time 5% tax on billionaires. Proposed by SEIU United Healthcare Workers West, the measure aims to fund food assistance and healthcare following federal Medicaid cuts. The California Legislative Analyst's Office projects the tax would raise tens of billions of dollars.

However, the measure faces potential invalidation from Propositions 41 and 42, which poll at 51% and 54% support respectively. These countermeasures, backed by the Sergey Brin-funded group Building a Better California, would prohibit new state personal property taxes and require auditor reviews of special taxes that violate spending limits. Proposition 40 must receive more yes votes than these countermeasures to succeed if all three pass.

Other ballot measures show mixed results. Proposition 45, an environmental review overhaul, dropped to 49% support, while Proposition 39 for voter ID and Proposition 43 for a higher tax threshold both poll at 43%. Three bond measures for medical research and housing maintain majority support. Governor Gavin Newsom and other candidates have argued that the billionaire tax would harm the economy by driving wealthy taxpayers out of the state.

In the gubernatorial race, Democrat Xavier Becerra leads Republican Steve Hilton with 60% and 38% support, respectively.