Californians approve Proposition 30 tax hike to avoid school cuts
- Early Wednesday morning, victory was declared for California Gov. Jerry Brown's Proposition 30, which is projected to raise $6 billion annually for the state's general fund and education, and prevent $6 billion in cuts this year.
- The measure will raise California's sales tax by a quarter of a cent for four years, as well as increasing incoming taxes by as much as 3 percentage points for the next seven years for people making over $250,000.
- Proposition 30 passed despite decades of anti-tax sentiment in the state, becoming the first general tax passed by Californians in 20 years.
From the article:
Overcoming decades of anti-tax sentiment in California, Gov. Jerry Brown's Proposition 30 -- billed as a tax hike to rescue the state's schools -- emerged victorious Wednesday morning. The measure was leading 53 percent to 47 percent with most precincts around the state reporting results, according to the Secretary of State's Office. After 2 a.m., the difference was more than 500,000 votes -- an advantage that grew by the minute after early returns showed the measure losing slightly. Brown declared victory in a rally just before midnight. ...
- San Jose Mercury News Read More
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