Californians Vote to Increase Sales and Use Tax
- Nov 7, 2012 | Gail Cole
Proposition 30 will:
- Increase taxes on earnings over $250,000 for seven years;
- Increase the state sales tax by 1/4 cent for four years
Revenue generated by Proposition 30 will fund schools and guarantee "public safety realignment funding." Previously planned 2012-2013 spending reductions for education and other programs will not take place. With the passage of Proposition 30, California state tax revenues through 2018-19 are expected to average about $6 billion.
Proposition 30 was "crafted and championed" by Governor Jerry Brown (D), who asked supporters to "… raise our taxes, for our kids, for our schools, and for our California dream."
Had Proposition 30 failed, "both the University of California and California State University systems" would have seen "a $250 million cut." Perhaps that's why exit polls indicate that the measure was heavily supported by younger voters.
Proposition 30 is scheduled to take effect on January 1, 2013.