KEY POINTS
Proposition 30 and the UC
The University of California’s financial future became directly contingent on the success or failure of the tax initiative after the UC Board of Regents accepted a tuition buyout in July. If the measure passes, the UC will see a freeze in tuition increases for the 2012-2013 academic year and will receive $120 million from the state the following summer. Should the measure fail, however, a $250 million mid-year “trigger” cut to the UC system will take place ““ and in that event, 20 percent tuition increases are likely, officials have said.
Proposition 30’s proposed tax increases
The governor’s tax measure would gather funds from two sources, an income tax and sales tax. Brown’s proposed seven-year income tax would create four stratifications of high-income Californians whose incomes are above $250,000. Under Brown’s initiative, sales taxes would be bumped up from 7.25 percent to 7.5 percent. Funds generated by Proposition 30 would be directed toward the state’s general fund. The University of California would be one of many institutions eligible to receive money from the fund.
Proposition 38: Molly Munger’s tax initiative
Also on the ballot this November is Proposition 38, a tax initiative written and funded by civil rights lawyer Molly Munger. Proposition 38 would direct its funds toward K-12 education and early childhood programs in the Golden State. Munger’s initiative would raise the income tax on most Californians for 12 years.
Competing initiatives
With two initiatives on the ballot, the chances that both fail is greatly increased. If both Munger’s and Brown’s measures are approved by California voters, the proposition with the most votes will be approved and the other nullified.
FROM THE TWITTERVERSE
State Senator Ted Lieu
Ted Lieu @tedlieu
I commend CA State PTA for helping to de-escalate the negative attacks ads against #Prop30. We all share the same goal of helping schools.
Soquel by the Creek @SoquelCreek
FACT: If #Prop30 passes, it would give California the 1st, 2nd, 3rd, & 5th highest state income tax rates in the USA. http://www.twitpic.com/a68drw/full
Professor of government, Claremont McKenna College; co-author, “American Government and Politics: Deliberation, Democracy, and Citizenship”
jpitney @jpitney
@GovJerryBrown wants students to back #Prop30. Compared with others, they’d pay less in tax and get more in benefits.
Capitol reporter for Bay Area News Group (Mercury News, Contra Costa Times, et al)
Steven Harmon @ssharmon
Molly Munger offers @jerrybrowngov a reprieve of sorts, pulling Prop. 38 attack ad against Prop. 30. http://bit.ly/QoDyve