Billionaire tax slips under 50% in PPIC's final pre-election poll, while the measure meant to block it holds a narrow lead

Support for Proposition 40, the proposed one-time tax on California billionaires, has fallen below a majority with less than a week left before the Nov. 3 election, according to a statewide survey the Public Policy Institute of California released Tuesday.

Among 1,086 likely voters surveyed Oct. 16 to 22, 46% said they would vote yes on Prop. 40 after reading its ballot title and label, and 52% said no, CalMatters reported. A month earlier, the measure's backers held a slim 52% majority in PPIC's polling.

The money

The wealth tax is the most expensive fight on the ballot. By mid-October, wealthy opponents had raised more than $205 million to defeat it, CalMatters reported, with Google co-founder Sergey Brin putting in at least $102 million.

The measure's sponsor, Service Employees International Union-United Healthcare Workers West, did not back away after the poll. Chief of staff Suzanne Jimenez said "large majorities of Democratic voters" still support it.

The counter-measures

Two other measures written to blunt the billionaire tax are running close. Prop. 42, which would bar new state taxes on personal property and assets and prohibit retroactive taxes, drew 51% support. Prop. 41, which would put limits on certain new state taxes, stood at 48%.

Where the other measures stand

PPIC found majorities in favor of several other statewide propositions:

• Prop. 1, the housing bond: 60%
• Prop. 2, the rainy-day fund measure: 61%
• Prop. 3, extending the tax on high incomes: 58%
• Prop. 37, the loan program for middle-income home buyers: 65%
• Prop. 38, the immunology research bond: 57%

Three of the five measures placed on the ballot by the Legislature and five of the nine citizens' initiatives fell short of majority support, the institute said.

The mood

The survey also found voters gloomy about the economy. About half of Californians named the cost of living, inflation and the economy, along with housing costs, as the state's most important issues, and majorities said their incomes are not keeping up with inflation.

Sixty-three percent of likely voters said they have a great deal or quite a lot of confidence in how votes are cast and counted in California.

Sources

ppic.org

calmatters.org