California voters set to decide third ballot measure since 2012 to maintain top marginal tax on high incomes to fund public education
California voters will decide in November on a ballot measure to make permanent the state's top marginal tax rates on high incomes, which are currently set to expire in 2031. This marks the third ballot initiative since 2012 regarding this progressive income tax, which was originally enacted to fund public education.
Key Points
- The measure would make permanent tax rates on high earners that are scheduled to sunset in 2031
- This is the third ballot initiative since 2012 addressing California's top marginal income tax rates
- The initiative is framed as funding public education