Overview
- Sergey Brin disclosed roughly $100–102 million to Building a Better California, which has funneled millions into 'No' ads and into rival ballot measures, Props. 41 and 42, that could block or nullify Proposition 40.
- A public back-and-forth between Mark Cuban and Rep. Ro Khanna highlighted a key practical problem: many startup founders are 'cash poor, stock rich,' and Khanna’s proposed non‑recourse loan against shares drew sharp criticism for potentially leaving the state holding private equity.
- Nonpartisan and academic estimates diverge sharply, with the Legislative Analyst’s Office forecasting 'tens of billions' in revenue but warning of ongoing tax losses if billionaires leave, while a Stanford team modeled scenarios that show a possible net loss of about $25 billion.
- New IRS migration figures show large net outflows of tax filers and income from several California counties, a trend opponents cite as evidence the measure could accelerate billionaire and capital flight and reduce long‑term tax receipts.
- The contest remains close in polls and hinges on pending legal and technical questions—retroactive application, asset valuation and collection mechanics—which will decide whether the ballot measure can fund healthcare and other programs as supporters claim.