Six US States Vote on Nine Major Tax Measures

Voters in six U.S. states are deciding on nine statewide income or wealth tax measures this midterm season. This volume represents a sharp increase over the historical average of 1.5 measures per year since 2000, reflecting a deep partisan divide over tax policy.

In California, Sergey Brin and other opponents are spending tens of millions of dollars to defeat Proposition 40, which proposes a one-time 5% levy on billionaire net worth. To counteract the measure, opponents are pushing Propositions 41 and 42. Other progressive efforts include a proposed graduated income tax in Colorado and a millionaires tax in Washington.

Republican-leaning states are pursuing opposite goals. North Carolina is considering cutting its income tax cap to 3.5%, while Iowa and Utah seek to implement stricter requirements for future tax increases. In Missouri, the state Senate has proposed investing state funds in the S&P 500 as a replacement for certain taxes. Meanwhile, Cook County, Illinois, will hold an advisory vote on a millionaires tax after a previous statewide effort failed to reach the ballot.