What is it?
The Schools and Local Public Safety Protection Act of 2012 is a new compromise initiative that brings together the more progressive aspects of the Millionaire’s Tax (sponsored by the California Federation of Teachers and Courage Campaign) and the more responsible structure of Gov. Brown’s original tax initiative. This new initiative taxes the wealthy to provide billions for public schools and essential services, and helps close the state budget deficit.
What are the details?
The measure includes a nominal quarter-cent sales tax increase, which expires in four years, and increases in income taxes on the wealthy, which expire in seven years. Under the new proposal, income taxes would increase as follows:
• 1 percent on households earning $500,000 to $600,000.
• 2 percent on households earning $600,000 to $1,000,000.
• 3 percent on households earning more than $1 million.
When passed, the measure will generate about $9 billion a year for the state budget. Placing the money into the general fund ensures there will be money for schools, colleges and other essential services at the same time it pays down the state’s wall of debt. In addition, it guarantees communities get funding for the realignment of services approved by the Legislature last year. Paying for the realignment will free up about $3 billion a year to be spent on higher education — CSU and UC — and other essential services.
What if it doesn’t pass?
The California budget has suffered huge cuts in every program; from education to universities, from child care to seniors and from public safety to programs for the disabled and needy. This year $4.8 billion in new cuts to schools and colleges are being proposed if this initiative doesn’t pass.
What can you do?
Sign a petition today, tell your friends and neighbors about it, and learn more about tax fairness at www.cta.org/taxfairness
There’s still time to sign?
Not much, so do it today! Find the three easy steps to gather signatures and the online version of the petition at protectschoolsandpublicsafety.com/petition