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California voters reject Billionaire tax | CNN Politics

CNN International •
November 10, 2026 • 12:00 PM
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Voters in California have rejected a measure to impose a one-time 5% wealth tax on residents with net worth over $1 billion. CNN’s Elex Michaelson reports.

California voters reject Billionaire tax | CNN Politics

Voters in California have rejected a measure to impose a one-time 5% wealth tax on residents with net worth over $1 billion. CNN’s Elex Michaelson reports.

Voters in California have rejected a measure to impose a one-time 5% wealth tax on residents with net worth over $1 billion. CNN’s Elex Michaelson reports.

Sen. Bernie Sanders, an independent who caucuses with Democrats, and Democratic Sen. Elissa Slotkin said they won’t back Senate Minority Leader Chuck Schumer to stay on as Democratic leader next year.

A doorbell camera showing women making monkey noises and gestures as they walked past an apartment where three Black Ole Miss students reportedly live has sparked outrage. The University of Mississippi condemned the “offensive” behavior and says it is investigating.

UPDATE: Alaina Kunes, one of the women identified in the video, sent a statement to CNN affiliate WMC apologizing and saying her actions were “insensitive, inappropriate, and deeply harmful.” Kunes said she did not know the residents' race, adding, “I would have never intentionally made those noises or gestures toward a person of color.”

Tuesday is the deadline for voters in Mississippi to provide updated documentation if they had to cast provisional ballots on Election Day. CNN’s Annie Grayer breaks down the timeline for election officials in Mississippi as the Senate candidates wait for a decision in the race that is still too close to call. Discover more videos, including live streams and exclusive storytelling, on our Watch page.

Republican Rep. Thomas Massie has filed articles of impeachment against US Secretary of Defense Pete Hegseth. The effort follows the GOP’s disastrous midterm election losses last week and Republican criticism aimed at Hegseth. CNN's Haley Britzky reports.

Republican Rep. Thomas Massie has filed articles of impeachment against Secretary of Defense Pete Hegseth. The House must vote by Wednesday on the effort, which is likely to pass. A trial could then be held in the Senate, where a supermajority, two-thirds of the body, would need to be reached to convict.

CNN’s Kevin Liptak looks at President Trump and Nvidia CEO Jensen Huang’s close ties over the years as Huang reels from the fallout of admitting to having an extramarital affair and his company announced it would investigate reports that he was the “target of a foreign intelligence effort.”

An Ohio State University fraternity, Sigma Alpha Epsilon, has been temporarily suspended after video surfaced online appearing to show two people on fire. CNN's Gloria Pazmino explains.

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Same Story from Other Publications

Compare how 6 other independent news outlets reported on this story.

6 Publications
The Next Web (TNW)
2d ago
California rejects billionaire tax after Brin spends $102m to stop it

California rejects billionaire tax after Brin spends $102m to stop it

“The billionaires may have bought themselves a temporary victory,” backers said, as California’s billionaire tax failed and a ban on new ones leads.

#california #reject #billionaire
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Al Jazeera English
3d ago
California voters reject billionaire tax

California voters reject billionaire tax

The proposed measure would have imposed a one-time 5 percent tax on Californian billionaires to fund healthcare.

#california #reject #billionaire
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TechCrunch
3d ago
California's proposed 'billionaire tax' fails to pass | TechCrunch

California's proposed 'billionaire tax' fails to pass | TechCrunch

California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.

#california #billionaire
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CNBC World
3d ago
Billionaire tax measure on California ballot defeated

Billionaire tax measure on California ballot defeated

A billionaire tax U.S. Senator Bernie Sanders and other progressives championed as an antidote to economic inequality was defeated in California.

#california #billionaire
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NPR News
3d ago
California voters defeat billionaire tax proposal that divided Democrats

California voters defeat billionaire tax proposal that divided Democrats

The novel proposal would have charged billionaires a one-time 5% tax on most of their overall wealth, including their ownership in companies.

#california #billionaire
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The Guardian
3d ago
California voters fail to pass proposed one-time tax on billionaires’ wealth

California voters fail to pass proposed one-time tax on billionaires’ wealth

Campaign over Prop 40, as measure was known, was most expensive in state history, flush with Silicon Valley dollars

#california #billionaire
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