Posted: Nov 7, 2012 3:05 AM by Associated Press
Updated: Nov 7, 2012 7:30 AM
LOS ANGELES (AP) - California voters have approved Gov. Jerry Brown's plan to raise income taxes on the wealthy and raise the statewide sales tax to fund K-12 schools and help balance the state budget.
The Proposition 30 vote was close and its passage was not clear until early Wednesday.
Its passage increases the statewide sales tax by a quarter cent for four years, starting in January, while people who make more than $250,000 a year will pay higher taxes for seven years retroactive to the beginning of 2012.
If voters had rejected it, the Democratic governor had pledged to enact $6 billion in cuts to schools and colleges.
Conservative opponents spent as much as $53 million to defeat the measure, while unions and Democratic activists poured nearly $70 million into the yes campaign.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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