Prop 40 Passes

Prop 40 survives the record opposition spending because polling already showed it ahead and the California Democratic Party endorsement keeps labor and progressive groups aligned. The No on 40 campaign led by ultrawealthy donors, including Sergey Brin-linked political money, narrows the margin but fails to change the core tax-fairness framing.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.