Labor splits over California's Prop 40 billionaire tax

California's Prop 40 billionaire tax is exposing rifts within labor: SEIU-UHW has refused to back the measure, while other unions oppose it, arguing the one-time 5% asset tax would not create a sustainable funding stream and could destabilize budgets for education and public safety; as Gov. Newsom and wealthy donors weigh in, the ballot fight highlights deep disagreements over how to fund healthcare and safety-net programs without prompting the wealthiest residents to leave.