In January 2012 California Governor Jerry Brown announced he would ask California voters to approve temporary increases in income and sales taxes. Later that year his proposal was embodied in Proposition 30. Projected by the Legislative Analysts Office to raise $6 billion per year for four years and smaller amounts for three years (ie, $42 billion or less), 40 percent of P30 revenues were to be provided to schools and community colleges*, the balance to the state. Marketed as “Temporary Taxes to Fund Education,” P30 passed.
Seven budget years later, the results are in. As examined in Part I of this series, >100 percent of schools’ expected Prop 30 revenue went to increased school spending on retirement costs.View Article