From Kiplinger · · 2m
November Ballot Tax Measures Target High Earners
High-income tax changes on November ballot could reshape state revenue and wealth distribution.
In brief
High-income tax changes on November ballot could reshape state revenue and wealth distribution. Colorado voters may adopt a graduated income tax system, California faces a billionaire levy, and Washington considers repealing a millionaire tax. Originally reported by Kiplinger.
November Ballot Tax Measures
High-income tax changes appear on state ballots this November targeting wealthy households and income levels.
Colorado Income Tax Amendment 87
Colorado voters may replace a 4.4% flat tax with a six-tier system starting in 2027, raising rates from 3.7% to 8.4% for income above $1 million.
Colorado Tax Impact
The measure could raise $2.7 billion for K-12 education, healthcare, and early childhood care by 2028, with most taxpayers receiving tax cuts.
California Billionaire Tax Proposal
Proposition 40 would impose a one-time 5% levy on California residents' net worth as of Dec. 31, 2026, with payments due in 2027.
California Tax Revenue
The tax could generate tens of billions over years, directing 90% to healthcare and reducing state revenue by less than $1 billion annually.
California Opposition
Governor Newsom and business groups oppose the tax, arguing it could discourage wealthy residents and reduce future tax revenue.
Washington Millionaire Tax
Washington voters may repeal a 9.9% tax on income above $1 million, scheduled to take effect in 2028.
Washington Tax Impact
Repealing the tax could reduce state revenue by $11.4 billion over five years, affecting education and healthcare funding.
Washington Support
Let's Go Washington argues the tax could harm families, businesses, and the state's economy by affecting public services.
Washington Opposition
Governor Ferguson and public-sector unions oppose repeal, warning of reduced funding for education and healthcare.
Key Considerations for Voters
Read official ballot language, check who's affected, compare arguments, and research impacts before voting on tax measures.
What Happens Next
If approved, new court challenges, implementation decisions, and updated revenue estimates could impact tax outcomes.
What matters most
Colorado voters may adopt a graduated income tax system, California faces a billionaire levy, and Washington considers repealing a millionaire tax.
