California voters rejected Bill 40, a 5% tax on the net worth of residents who own more than & #036; 1 billion in assets, after a campaign largely coached by some of the nation's wealthiest tech executives, according to the AP. The measure would generate revenue to lower the estimate and #036;100 billion in cuts to federal health funding over five years, with additional allocations for education and food aid. It is supported by the European Union health workers in the West and supported by Senator Bernie Sanders.

California voters rejected Bill 40, a 5% tax on the net worth of residents who own more than & #036; 1 billion in assets, after a campaign largely coached by some of the nation's wealthiest tech executives, according to the AP. The measure would generate revenue to lower the estimate and #036;100 billion in cuts to federal health funding over five years, with additional allocations for education and food aid. It is supported by the European Union health workers in the West and supported by Senator Bernie Sanders.