Voters in several US states will decide on ballot measures that could change tax laws and increase bond supply, according to CNBC. California is weighing a one-time 5% levy on billionaires and a permanent tax increase on individuals earning over 371,000 dollars. Florida voters will decide whether to raise the homestead exemption for homeowners. CNBC reports that such tax changes could make municipal bonds more attractive to investors, who may seek tax-free income and push bond prices higher if the measures pass.
California
3 stories since 30 October 2026, newest first
1 November 2026
California voters will soon decide on Proposition 40, a ballot measure that would impose a one-time tax of 5% on assets for residents whose wealth exceeds $1 billion. The union backing the measure says it could raise $100 billion in revenue. Fortune reports the vote is approaching, with no result yet. The state already has the most progressive income-tax structure in the country, with a top marginal rate of 13.3%, and the top 1% of earners account for up to half of state revenue.
30 October 2026
General Motors will pay $220 million to settle claims brought by a coalition of US state attorneys general over the sale of driver data. The states allege GM sold driving behaviour and location data to data brokers and insurers from 2016 to 2024 without customers' permission, linked to its discontinued Smart Driver program. Under the settlement, GM must limit data collection and obtain drivers' express consent before collecting or sharing their information, and must undergo a third-party assessment of its privacy program. The deal follows a New York Times report on the practice. Reporting differs on the number of states involved, with some outlets citing 36 and others 35 plus the District of Columbia.