Increases taxes on earnings using sliding scale, for twelve years. Revenues go to K–12 schools and early childhood programs, and for four years to repaying state debt. Fiscal Impact: Increased state tax revenues for 12 years—roughly $10 billion annually in initial years, tending to grow over time. Funds used for schools, child care, and preschool, as well as providing savings on state debt payments.
WHAT YOUR VOTE MEANS
YES A YES vote on this measure means: State personal income tax rates would increase for 12 years. The additional revenues would be used for schools, child care, preschool, and state debt payments.
NO A NO vote on this measure means: State personal income tax rates would remain at their current levels. No additional funding would be available for schools, child care, preschool, and state debt payments.
PRO 38 makes schools a priority again. It guarantees new funding per pupil direct to every local public school site to restore budget cuts and improve educational results. 38 prohibits Sacramento politicians from touching the money. Spending decisions are made locally with community input and strong accountability requirements, including independent audits.
CON No on 38: If you earn $17,346 per year in taxable income, your taxes increase. Total of $120 BILLION in higher taxes. No requirements to improve student performance. Can’t be changed for 12 years even for fraud. Damages small business. Kills jobs. Educators, taxpayers and businesses say No on 38.
FOR ADDITIONAL INFORMATION
- Jason Kinney
- Stop the Middle-Class Income Tax Hike – No on Prop. 38
- 980 9th Street, Suite 2000
- Sacramento, CA 95814
- (916) 806-2719