A $6 billion-a-year package of tax increases backed by Gov. Jerry Brown has passed in California, the Associated Press reported on Wednesday morning.
Brown has made the tax package, Prop 30, the centerpiece of his administration. It would raise the sales tax by a quarter of a cent for the next four years, and increase taxes on those making more than $250,000 for the next seven years. Brown argued the package of tax hikes was needed to prevent a devastating series of cuts to the state’s public schools and universities.
Source: Politico. Read full article. (link)