November Ballots Set Stage for National Clash on Wealth and Income Taxes
In November 2026, voters in California, Colorado, and Washington will decide on major tax measures that could reshape state finances and influence wealth migration. California’s Proposition 40 proposes a one-time 5% wealth tax on billionaires, while Colorado considers replacing its flat tax with a progressive structure, and Washington may repeal a new millionaire’s tax. These votes highlight a growing national divide between states seeking to raise revenue from high earners and those competing to attract them through lower taxes.
