Back in 2012 voters approved Proposition 30, which combined a one-fourth cent sales tax increase and a surcharge on incomes taxes for individuals earning more than $250,000 annually. The money raised went to fund education and healthcare agencies, both of which were severely impacted by budget cuts during the great recession.
The provisions of this measure expire at the end of 2018. Proposition 55 asks voters to extend the 1-3% increase on high-income earners through 2030. The sales tax increase would be allowed to sunset at the end of 2016.
The measure will keep money flowing to K-12 schools, community colleges, and (if the Gov. says ok) healthcare for low-income Californians, along with adding to the state’s rainy day fund. Even with the current level of funding, California still ranks near the bottom of the nation in per-pupil spending, class-size average and per-student ratio in nurses, librarians, and counselors. [Read more…]