NewsABC7 News San Francisco (KGO-TV)October 25, 2026San Francisco County
Propositions 41 and 42 Target California's Proposed Billionaire Tax
Photo: ABC7 News San Francisco (KGO-TV)
Propositions 41 and 42 appear on the November ballot to require tax program audits and prohibit certain new state taxes, measures that could potentially invalidate a proposed billionaire tax if they receive more votes. Supporters argue the initiatives bring fiscal accountability and protect retirement savings, while opponents contend they are a deceptive attempt by wealthy donors to undermine taxes for public services.
Read the full story at ABC7 News San Francisco (KGO-TV)Why It Matters
The outcome of the November ballot measures determines whether California institutes new tax audits and bans es or moves forward with a wealth tax, affecting future state revenue streams and public funding for services like health care and housing.
Key Facts
- Proposition 41 would require audits of new tax programs by the state auditor.
- Proposition 42 prohibits new state personal property taxes and certain retroactive state taxes.
- If Prop. 41 or Prop. 42 receives more votes than Proposition 40, it takes effect and can invalidate the billionaire tax.
- Google co-founder Sergey Brin has donated more than $138 million to fund Propositions 41 and 42.
- Governor Gavin Newsom publicly endorsed Proposition 42, diverging from his party and some labor unions.
- Supporters argue Prop. 41 brings accountability and Prop. 42 protects retirement and savings from increased taxes.
- Opponents, including the ACLU of Southern California, argue the measures are redundant and attempt to cancel out the billionaire's tax.
Who's Mentioned
PersonTracy Hernandez“Part of the Yes on Prop. 41 campaign”PersonClarissa Woo Hermosillo“With the ACLU of Southern California”PersonBrian Marvel“Part of the Yes on 42 campaign”OrganizationGoogle“Employer/company of co-founder Sergey Brin”PersonSergey Brin“Google co-founder who donated to the campaigns”OrganizationACLU of Southern California“Opposing organization represented by Clarissa Woo Hermosillo”PersonGavin Newsom“Governor of California”