Tax Increase Initiative Passed in California

Prop 30 will raise taxes on wealthy

Tax increase initiative Prop 30 has passed in California. The $6 billion-a-year package would increase taxes on those making more than $250,000 for the next seven years, and would raise the sales tax by a quarter of a cent for the next four years. Governor Jerry Brown argued the package was needed to prevent cuts to the state’s public schools and universities. “I know a lot of people had some doubts and some questions: Can you really go to the people and ask them to vote for a tax? Here we are. We have a vote of the people, I think the only state in the country that says, ‘Let’s raise our taxes, for our kids for our schools, and for our California dream," Brown said at a rally for supporters Tuesday night. (Politico)

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