Proposition 55 is a California ballot proposition that passed on the November 8, 2016 ballot, regarding extending by twelve years the temporary personal income tax increases enacted in 2012 on earnings over $250,000, with revenues allocated to K–12 schools, California Community Colleges, and, in certain years, healthcare.[2] Proposition 55 will raise tax revenue by between $4 billion and $9 billion a year.[3] Half of funds will go to schools and community colleges, up to $2 billion a year would go to Medi-Cal, and up to $1.5 billion will be saved and applied to debt.[3]
California voters passed temporary sales and income tax increases with Proposition 30 in 2012.[4] During the temporary tax, California's top 1% of earners paid half of the state's income-taxes and contributed one third of its budget.[4] Since the 2012 tax increase, California's tax revenues have grown by nearly 30%, with roughly two thirds of the money going to schools.[4]
Proposition 55 allowed the sales tax increase to expire as planned, while maintaining the increased income tax rates and extended them through 2030.[4] Governor Jerry Brown, who was the primary proponent of the tax increase in 2012, remained neutral on Proposition 55.[5]
A September 2016 poll by the Public Policy Institute of California showed that 54% of likely voters supported Proposition 55, 38% opposed it, and 8% did not know how they would vote.[10]
Proposition 55 was approved by voters in the November general election, with 63% voting yes.[11]
Referencesedit
^"Statement of Vote - November 8, 2016, General Election". December 16, 2016. Retrieved January 7, 2017.
^. Legislative Analyst's Office. Archived from the original on 11 October 2016. Retrieved 10 October 2016.
^ abcdeLagos, Marisa. . KQED News. Archived from the original on 20 October 2016. Retrieved 20 October 2016.
^ abcdeThe Editorial Board of the Wall Street Journal (26 October 2016). "The State Taxathon". The Wall Street Journal. Retrieved 27 October 2016.
^ abAdler, Ben (25 October 2016). . Capital Public Radio. Archived from the original on 27 October 2016. Retrieved 27 October 2016.
^The Editorial Board of the Sacramento Bee (24 September 2016). "'Yes' on Proposition 55 tax, unenthusiastically". The Sacramento Bee. Retrieved 20 October 2016.
^"Proposition 55 needed to renew tax on richest Californians". The Mercury News. September 8, 2016.
^The Editorial Board of the Los Angeles Times (1 October 2016). "Don't tie California's fate to Wall Street volatility. Vote no on Proposition 55". Los Angeles Times. Retrieved 20 October 2016.
^The Editorial Board of the San Francisco Chronicle (9 September 2016). "Chronicle recommends: No on state Prop. 55". San Francisco Chronicle. Retrieved 20 October 2016.
^Baldassare, Mark (September 2016). "Californians & Their Government: Statewide Survey" (PDF). Public Policy Institute of California. Retrieved 11 October 2016.
^Pritchard, Justin (9 November 2016). . The Sacramento Bee. Archived from the original on 12 November 2016. Retrieved 11 November 2016.
External linksedit
Yes on 55 - Californians for Budget Stability
No on Proposition 55
Proposition 55 Would Extend Prop 30 Income Taxes to Fund Schools, Health Care 2016-10-27 at the Wayback Machine Discussion on Forum (KQED)
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2016, california, proposition, proposition, california, ballot, proposition, that, passed, november, 2016, ballot, regarding, extending, twelve, years, temporary, personal, income, increases, enacted, 2012, earnings, over, with, revenues, allocated, schools, c. Proposition 55 is a California ballot proposition that passed on the November 8 2016 ballot regarding extending by twelve years the temporary personal income tax increases enacted in 2012 on earnings over 250 000 with revenues allocated to K 12 schools California Community Colleges and in certain years healthcare 2 Proposition 55 will raise tax revenue by between 4 billion and 9 billion a year 3 Half of funds will go to schools and community colleges up to 2 billion a year would go to Medi Cal and up to 1 5 billion will be saved and applied to debt 3 Proposition 55Tax Extension for Education and HealthcareResultsChoice Votes Yes 8 594 273 63 27 No 4 988 329 36 73 Valid votes 13 582 602 92 96 Invalid or blank votes 1 027 907 7 04 Total votes 14 610 509 100 00 Registered voters turnout 19 411 771 75 27 Results by county Yes 80 90 70 80 60 70 50 60 No 50 60 Source California Secretary of State 1 Contents 1 History 2 Campaigning 3 Results 4 References 5 External linksHistory editCalifornia voters passed temporary sales and income tax increases with Proposition 30 in 2012 4 During the temporary tax California s top 1 of earners paid half of the state s income taxes and contributed one third of its budget 4 Since the 2012 tax increase California s tax revenues have grown by nearly 30 with roughly two thirds of the money going to schools 4 Proposition 55 allowed the sales tax increase to expire as planned while maintaining the increased income tax rates and extended them through 2030 4 Governor Jerry Brown who was the primary proponent of the tax increase in 2012 remained neutral on Proposition 55 5 Campaigning editProponents spent 58 6 million fighting for the measure with the top donor being 25 million from a hospital trade association 3 An additional 20 million was donated by the California Teachers Association with other top donors including the Service Employees International Union and the California School Employees Association 3 The measure was supported by the editorial boards of The Sacramento Bee 6 and The Mercury News 7 Opponents spent 3 000 fighting against the measure 3 The California Chamber of Commerce who were neutral on the 2012 tax increase opposed Proposition 55 5 The measure was opposed by the editorial boards of the Los Angeles Times 8 the San Francisco Chronicle 9 and The Wall Street Journal 4 Results editA September 2016 poll by the Public Policy Institute of California showed that 54 of likely voters supported Proposition 55 38 opposed it and 8 did not know how they would vote 10 Proposition 55 was approved by voters in the November general election with 63 voting yes 11 References edit Statement of Vote November 8 2016 General Election December 16 2016 Retrieved January 7 2017 Proposition 55 California General Election November 8 2016 Official Voter Information Guide California Secretary of State Legislative Analyst s Office Archived from the original on 11 October 2016 Retrieved 10 October 2016 a b c d e Lagos Marisa Election 2016 Proposition 55 KQED News Archived from the original on 20 October 2016 Retrieved 20 October 2016 a b c d e The Editorial Board of the Wall Street Journal 26 October 2016 The State Taxathon The Wall Street Journal Retrieved 27 October 2016 a b Adler Ben 25 October 2016 Proposition 55 May Be Good Politics But Is It Good Policy Capital Public Radio Archived from the original on 27 October 2016 Retrieved 27 October 2016 The Editorial Board of the Sacramento Bee 24 September 2016 Yes on Proposition 55 tax unenthusiastically The Sacramento Bee Retrieved 20 October 2016 Proposition 55 needed to renew tax on richest Californians The Mercury News September 8 2016 The Editorial Board of the Los Angeles Times 1 October 2016 Don t tie California s fate to Wall Street volatility Vote no on Proposition 55 Los Angeles Times Retrieved 20 October 2016 The Editorial Board of the San Francisco Chronicle 9 September 2016 Chronicle recommends No on state Prop 55 San Francisco Chronicle Retrieved 20 October 2016 Baldassare Mark September 2016 Californians amp Their Government Statewide Survey PDF Public Policy Institute of California Retrieved 11 October 2016 Pritchard Justin 9 November 2016 Tax the rich for education California votes yes The Sacramento Bee Archived from the original on 12 November 2016 Retrieved 11 November 2016 External links editYes on 55 Californians for Budget Stability No on Proposition 55 Proposition 55 Would Extend Prop 30 Income Taxes to Fund Schools Health Care Archived 2016 10 27 at the Wayback Machine Discussion on Forum KQED nbsp This article about the politics of California is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title 2016 California Proposition 55 amp oldid 1170506569, wikipedia, wiki, book, books, library,
