Prop. 3: the future of education funding |
Proposition 3 aims to permanently extend an income tax on California's wealthiest residents to fund schools, healthcare, and other state services. "I can't overstate how important this is," said David Goldberg, president of the California Teachers Association, emphasizing the tax's significance for schools. The measure targets individuals earning over $371,000 and couples over $743,000 annually, generating between $5bn and $15bn yearly. If passed, it would maintain a 12.3% tax rate for top earners, contributing significantly to K-12 education budgets. However, opponents argue that California's declining student enrollment and high tax rates may not justify additional funding. Supporters, including the teachers' union, have mobilized extensively for the measure, which appears to have voter support, with 58% favoring it according to a recent poll. Prop. 3 is set for the November 3 ballot.