This was written by staff at the nonprofit newsroom EdSource. It was republished by The Mendocino Voice in partnership with EdSource to bring relevant education news to Mendocino County readers. Learn more about EdSource here.
SACRAMENTO, CA., 10/29/26 — Support for Proposition 3, which would make permanent an income tax increase, is holding, while support for Proposition 40, the proposed wealth tax on billionaires, is sinking, according to a new poll released with less than a week before the Nov. 3 election.
If the trend holds, the split outcome would defy one conventional maxim: Two tax initiatives on the same ballot would hurt chances for both. But it would confirm another truism: Money matters in elections.
The voter survey of 1,728 California adults by the Public Policy Institute of California was taken Oct. 16-22.
It found that 58% of voters back Proposition 3, the income tax surcharge on tax filers earning more than $176,000 ($331,000 for couples) that would fund education and healthcare, while 41% would vote no — almost identical to PPIC’s survey in September. Most Democrats and independents, younger voters and renters widely support the measure, while older voters and Republicans remain opposed.
A month ago, a PPIC survey found that 52% of adults backed and 46% opposed Proposition 40, which would impose the nation’s first wealth tax — a one-time, 5% tax on the assets of California’s approximately 200 billionaires. But that majority vanished in the latest poll; it found the opposite: 46% in favor with 52% opposed. While 64% of Democrats would vote yes, only 40% of independents and 18% of Republicans would vote for it.
Silicon Valley’s tech moguls have spent $293 million opposing Prop. 40, led by Google co-founder Sergey Brin’s $102 million, according to Politico.
The California Teachers Association poured $30 million into supporting Prop. 3, while the California Tax Association, the primary opponent, spent negligible amounts.
This article first appeared in EdSource here.