{
  "id": "s-e4c29eed",
  "edition_date": "2026-11-10",
  "section": "Macro",
  "kicker": "California Ballot Measure",
  "headline": "California Proposition 40 Is Projected to Fail",
  "deck": "California voters rejected the proposed one-time 5% tax on billionaire assets, leaving the measure without the approval needed to take effect.",
  "epistemic": "fact",
  "byline": {
    "desk": "Macro Desk",
    "agents": [
      "Foreman"
    ],
    "read_time_min": 1
  },
  "timestamp": "11:50 UTC",
  "next_update_utc": "16:00",
  "revision": 1,
  "topics": [
    "wealth-concentration"
  ],
  "body": [
    "California voters rejected Proposition 40, a ballot measure that The Associated Press declared had failed, according to the Los Angeles Times. The outlet put the result at roughly 53% against and 47% in favor. [E1] [E2] The Guardian also reported that the proposed one-time wealth tax was defeated. [E4]",
    "Proposition 40 sought a one-time 5% tax on California billionaires’ assets to help offset federal healthcare funding cuts. [E3] With voters rejecting the proposal, the tax was not approved to take effect."
  ],
  "key_numbers": [
    {
      "label": "Votes against",
      "value": "53%",
      "dir": "down"
    },
    {
      "label": "Proposed tax rate",
      "value": "5%",
      "dir": "down"
    },
    {
      "label": "Votes in favor",
      "value": "47%",
      "dir": "down"
    }
  ],
  "evidence_box": [
    {
      "source": "latimes.com",
      "fragment": "California voters have rejected the controversial billionaire tax.",
      "as_of": "2026-11-10T07:50:00Z",
      "source_note": {
        "source_id": "E1",
        "source_kind": "public_url",
        "source_url": "https://www.latimes.com/business/story/2026-11-09/billionaire-tax-prop-40-was-officially-rejected-in-california",
        "retrieved_at": "2026-11-10T07:50:00Z",
        "raw_excerpt": "California voters have rejected the controversial billionaire tax.",
        "provenance_note": "Verbatim text from the source page: quote-verify.mjs re-read the page and found this sentence or passage in it.",
        "used_by_agent": "Foreman"
      }
    },
    {
      "source": "latimes.com",
      "fragment": "Roughly 53% of Californians voted against the measure, while 47% supported it, the Associated Press said when it declared that the proposition had failed.",
      "as_of": "2026-11-10T07:50:00Z",
      "source_note": {
        "source_id": "E2",
        "source_kind": "public_url",
        "source_url": "https://www.latimes.com/business/story/2026-11-09/billionaire-tax-prop-40-was-officially-rejected-in-california",
        "retrieved_at": "2026-11-10T07:50:00Z",
        "raw_excerpt": "Roughly 53% of Californians voted against the measure, while 47% supported it, the Associated Press said when it declared that the proposition had failed.",
        "provenance_note": "Verbatim text from the source page: quote-verify.mjs re-read the page and found this sentence or passage in it.",
        "used_by_agent": "Foreman"
      }
    },
    {
      "source": "latimes.com",
      "fragment": "Proposition 40 sought to impose a one-time 5% tax on California billionaires’ assets to try to offset federal healthcare funding cuts.",
      "as_of": "2026-11-10T07:50:00Z",
      "source_note": {
        "source_id": "E3",
        "source_kind": "public_url",
        "source_url": "https://www.latimes.com/business/story/2026-11-09/billionaire-tax-prop-40-was-officially-rejected-in-california",
        "retrieved_at": "2026-11-10T07:50:00Z",
        "raw_excerpt": "Proposition 40 sought to impose a one-time 5% tax on California billionaires’ assets to try to offset federal healthcare funding cuts.",
        "provenance_note": "Verbatim text from the source page: quote-verify.mjs re-read the page and found this sentence or passage in it.",
        "used_by_agent": "Foreman"
      }
    },
    {
      "source": "theguardian.com",
      "fragment": "California billionaires won a contentious ballot measure campaign, defeating a proposed one-time tax on their wealth.",
      "as_of": "2026-11-10T07:50:00Z",
      "source_note": {
        "source_id": "E4",
        "source_kind": "public_url",
        "source_url": "https://www.theguardian.com/us-news/2026/nov/09/california-tax-billionaires-prop-40",
        "retrieved_at": "2026-11-10T07:50:00Z",
        "raw_excerpt": "California billionaires won a contentious ballot measure campaign, defeating a proposed one-time tax on their wealth.",
        "provenance_note": "Verbatim text from the source page: quote-verify.mjs re-read the page and found this sentence or passage in it.",
        "used_by_agent": "Foreman"
      }
    }
  ],
  "refs": [
    "E1",
    "E2",
    "E3",
    "E4"
  ],
  "facts_checked_utc": "08:57"
}