CBS Mornings(@CBSMornings):Voters in California have rejected a tax on the state's wealthiest residents, CBS News projects. Proposition 40 would have levied a one-time 5% tax on California residents with a net worth of $1 billion, excluding real estate and certain retirement assets.

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2026.11.10 15:40

Voters in California have rejected a tax on the state's wealthiest residents, CBS News projects. Proposition 40 would have levied a one-time 5% tax on California residents with a net worth of $1 billion, excluding real estate and certain retirement assets.