California’s Proposition 2, a legislative constitutional amendment placed on the November ballot after supermajority passage in both houses in late June, would double the cap on the Budget Stabilization Account from 10 percent to 20 percent of general fund tax revenue while adjusting deposit rules during high capital-gains years and exempting certain reserves from the Gann spending limit. Democratic leaders and Governor Newsom frame the change as prudent preparation for revenue volatility that safeguards schools, health care, and debt repayment. Republican opponents argue it functions as a workaround to spending caps that could encourage higher long-term outlays. With the election roughly six weeks away and no major new polling or campaign developments reported since the measure qualified, trader pricing at 68 percent for passage reflects the structural advantages of a Democratic-backed fiscal measure in the state alongside typical ballot-measure uncertainty and organized opposition.