Prop 42

Prohibits any new state tax (1) imposed on the ownership of personal property (all things people own other than real estate), or (2) that applies retroactively based on taxpayer’s past activities. Nullifies taxes enacted after January 1, 2026 that conflict with this measure. 

Fiscal Impact: Possibility that tax revenues will not go up as much in the future. 

Supporters: CA Professional Firefighters; State Building & Construction Trades Council of CA; AMVETS Department of CA 

Opponents: US Senator Bernie Sanders; SEIU United Healthcare Workers West

WHAT YOUR VOTE MEANS

YES
A YES vote on this measure means: The state could not establish new taxes on the ownership of financial assets or other personal property.

NO
A NO vote on this measure means: The state would continue to have the option to establish new taxes on the ownership of financial assets or other personal property.

ARGUMENTS

PRO
California’s Constitution currently allows the Legislature to tax retirement and savings—even though you already paid taxes on that money when you earned it! Prop. 42 protects Californians from this double taxation, by prohibiting new and retroactive taxes on personal property, including retirement and savings. You earned it. Prop. 42 protects it.

CON
This is just another billionaire-funded trick. Prop. 42 isn’t really about protecting your retirement savings—its only real purpose is to undo the California Billionaire Tax. Billionaires would rather millions of Californians lose healthcare than pay a modest tax on their extreme wealth. Vote NO on 42.