Rich Californians may need to pony up more in taxes if voters approve a ballot measure in November—bankrolled by convicted cryptocurrency billionaire Sam Bankman-Fried—if the initiative is not withdrawn by the end of June.
“Initiative #1916 ‘Provides Funding for Pandemic Detection and Prevention by Increasing Tax on Personal Income Over $5 Million. Initiative Constitutional Amendment and Statute’ is eligible to be qualified for the ballot. It will qualify for the ballot on June 27 unless the proponents withdraw it,” a California Secretary of State (SOS) spokesperson told The Epoch Times via email. “They can withdraw it in writing to our office on or before 5:00 p.m. on June 27,” the spokesperson said.
