California Proposition Roundup: Results So Far

Key Points:

• California voters are deciding on 14 state propositions covering issues such as taxing billionaires, voter ID requirements, environmental reviews, and funding for housing, schools, and healthcare, with three measures declared winners and two defeated as of half the votes counted.
• Proposition 1, a $10 billion housing bond plus $1.25 billion for veterans’ home loans, was approved to fund affordable housing projects and help 40,000 families buy homes amid a housing affordability crisis.
• Proposition 2 to expand California’s rainy day fund to 20% of general fund revenue passed with 60% support, aiming to stabilize state finances against economic fluctuations.
• Proposition 37, a $25 billion bond for down-payment assistance on newly constructed homes for moderate-income buyers, passed with 61% support, while Proposition 39 to require voter ID was rejected by nearly 60% of voters.
• The controversial Proposition 40, a one-time 5% tax on billionaires to fund health services, was leaning toward defeat with 57% voting no, opposed by heavily funded tech billionaire campaigns; related measures 41 and 42, addressing tax audits and limits, showed mixed results with 41 failing and 42 leading.