{
  "id": 19415941,
  "title": "California rejects billionaire tax",
  "url": "https://urgent.news/2026/11/10/california-rejeita-imposto-sobre-bilionarios",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-10T23:08:00.000Z",
  "source": {
    "name": "Brazil Journal",
    "slug": "brazil-journal",
    "url": "https://braziljournal.com/california-rejeita-imposto-sobre-bilionarios"
  },
  "original_language": "pt",
  "account": "California voters have rejected Proposition 40, which would have introduced the US's first wealth tax, imposing a 5% levy on state residents with assets over $1 billion. The proposal had 47% support with around 83% of votes counted. The tax was intended to fund healthcare and education, with proponents claiming it would raise $100 billion over five years. The defeat is seen as a win for Governor Gavin Newsom, who opposed the measure, although the California Democratic Party supported it.",
  "summary": "California voters on Monday rejected Proposition 40, which would have created the first wealth tax in the United States, levying a one-time 5% fee on the assets of state residents with more than $1 billion. With about 83% of votes counted, the proposal had only 47% support. The outcome took nearly a week to determine because most of the state's…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}