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California Wealth Tax and Midterm Economic Sentiment Lead CBS Sunday Program

CBS News Sunday Morning previews segments on California's proposed billionaire tax, economic sentiment in Michigan, and new exhibitions in New York City for its October 18, 2026, broadcast.

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The short answer

CBS News Sunday Morning previews segments on California's proposed billionaire tax, economic sentiment in Michigan, and new exhibitions in New York City for its October 18, 2026, broadcast.

California Wealth Tax and Midterm Economic Sentiment Lead CBS Sunday Program

The Facts

Who
CBS News, Jo Ling Kent, Nancy Cordes, John Turturro, and Rosalía
What
Television news broadcast features and upcoming segments
When
October 18, 2026
Where
California, Michigan, and New York City
Why
The program covers a proposed wealth tax in California, voter sentiment regarding inflation and housing costs ahead of midterms, and new cultural releases.

CBS News Sunday Morning announced its upcoming program lineup for October 18, 2026, featuring a lead segment on California's Proposition 40. The measure asks voters to decide whether the state should implement a new tax on the wealth of billionaires. Correspondent Jo Ling Kent reported on whether the measure would deliver promised benefits and why some progressives oppose it, interviewing experts such as Professor Ray Madoff and SEIU-United Healthcare Workers West president Dave Regan.

The program also addressed the economic environment ahead of the 2026 midterm elections. Chief White House correspondent Nancy Cordes traveled to Michigan to speak with voters about how high fuel costs, housing prices, and wages that aren't keeping pace with inflation have influenced consumer sentiment. According to the University of Michigan's Surveys of Consumers, sentiment levels are currently lower than at nearly any other point in modern history.

In the arts, the broadcast highlighted a new exhibition at the Metropolitan Museum of Art titled "Krasner and Pollock: Past Continuous." The show, which runs through January 31, 2027, examines the intertwined careers of Lee Krasner and Jackson Pollock. Additionally, the program interviewed actor John Turturro regarding his lead role in the film "The Only Living Pickpocket in New York," scheduled for theatrical release on October 23. The episode also features segments on singer Rosalía and a Broadway revival of the play "Other Desert Cities."

For voters in Michigan and across the country, the report on consumer sentiment underscores the role of the economy in the upcoming 2026 midterm elections. The University of Michigan data indicates that many households are seeing a change in their purchasing power as wages fail to keep pace with the costs of daily essentials like fuel and housing. This sentiment often influences voter behavior at the polls, affecting which parties or candidates gain control of federal and state offices.

What happens next: California voters will cast their ballots on Proposition 40 during the upcoming elections. The Metropolitan Museum of Art's exhibition on Krasner and Pollock will remain open to the public until January 31, 2027. In the entertainment sector, John Turturro's new film is set to open in theaters on October 23, and the play "Other Desert Cities" will continue its run at the Hudson Theatre in New York City through January 17, 2027.

Timeline of what happened

Key dates and decisions, in the order they occurred.

  1. October 14, 1926

    Winnie-the-Pooh first appears in book form

  2. 1962

    First Valley City Frog Jump contest held

  3. October 23, 2026

    The Only Living Pickpocket in New York opens in theaters

  4. January 17, 2027

    Other Desert Cities scheduled to conclude Broadway run

  5. January 31, 2027

    Krasner and Pollock exhibition at the Met scheduled to close

Summaries are written by The Plain Record to state the facts of a story plainly and without political slant. Drafted with AI assistance and checked against the source record before publication. See how we report, or report a correction.

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Questions readers ask

What happened: California Wealth Tax and Midterm Economic Sentiment Lead CBS Sunday Program?

CBS News Sunday Morning announced its upcoming program lineup for October 18, 2026, featuring a lead segment on California's Proposition 40. The measure asks voters to decide whether the state should implement a new tax on the wealth of billionaires.

Who is involved?

CBS News, Jo Ling Kent, Nancy Cordes, John Turturro, and Rosalía

When did this happen?

October 18, 2026

Where did this happen?

California, Michigan, and New York City

Why does this matter?

The program covers a proposed wealth tax in California, voter sentiment regarding inflation and housing costs ahead of midterms, and new cultural releases.