California voters reject tax on wealthy that would have promoted electric vehicles

California voters on Tuesday rejected a measure that would have imposed an additional tax on the rich in order to fund electric vehicle subsidies and charging stations. 

Funds from the ballot initiative, known as Proposition 30, also would have gone to support wildfire response in the Golden State. 

Under the proposal, residents who make more than $2 million each year would pay an additional 1.75 percent personal income tax on earnings above $2 million. 

The Associated Press called the ballot initiative race just before 2:30 a.m.

With 41 percent of the votes counted, votes for the measure trailed those against it, standing at 59 percent to 41 percent as of Wednesday morning. 

According to the state’s official voter guide, if it had passed, the measure was expected to bring in $3.5 billion to $5 billion for the state in order to support the electric vehicle and wildfire response and prevention programs. 

Earlier this year, California regulators approved a ban on gas-powered car sales in the state. The state has also grappled with major wildfires in recent years.