PROP
42

PROHIBITS NEW STATE PERSONAL PROPERTY TAXES AND CERTAIN RETROACTIVE STATE TAXES. INITIATIVE CONSTITUTIONAL AMENDMENT.

SUMMARY

Put on the Ballot by Petition Signatures

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.

FOR ADDITIONAL INFORMATION

FOR
Yes on 42—Protect Retirement
and Life Savings, a coalition of
retirees, blue-collar workers,
seniors, veterans, small
business and taxpayers
info@yesonprop42.org
YesOnProp42.org
AGAINST
Suzanne Jimenez
SEIU-UHW
5480 Ferguson Drive
Los Angeles, CA 90022
(855) 507-7562
info@YesOn40.com
www.yeson40.com

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