skip to main content

Listen

Read

Watch

Schedules

Programs

Events

Give

Account

Donation Heart Ribbon

Governor, Millionaires Tax Backers Reach Compromise

Aired 3/14/12 on KPBS News.

California Governor Jerry Brown has agreed to a compromise November tax measure with a coalition of unions and liberal groups backing the rival “Millionaires Tax.”

This chart in Senate President Pro Tem Darrell Steinberg's office Wednesday compares the original tax proposal from Gov. Jerry Brown and the deal reached between the governor and the coalition of progressive groups backing the Millionaires Tax.
Enlarge this image

Above: This chart in Senate President Pro Tem Darrell Steinberg's office Wednesday compares the original tax proposal from Gov. Jerry Brown and the deal reached between the governor and the coalition of progressive groups backing the Millionaires Tax.

California Governor Jerry Brown has agreed to a compromise November tax measure with a coalition of unions and liberal groups backing the rival "Millionaires Tax."

If it qualifies, it would be a big win for Brown and Democrats. But supporters like Senate Leader Darrell Steinberg will face an extremely tight timeline to gather 800-thousand signatures for the new initiative.

"We're confident that we can get it done. We're confident. It's a big lift. But the stakes are so high that it's worth whatever lift is necessary," said Steinberg.

The compromise resembles the governor's original proposal, but would shift a greater tax burden to the wealthiest Californians. For example, the increases on people making more than 300-thousand dollars a year would be larger. And the income tax increases would last seven years instead of five. Meantime, the new initiative would reduce a proposed four-year sales tax hike from half a cent to a quarter-cent.

Please stay on topic and be as concise as possible. Leaving a comment means you agree to our Community Discussion Rules. We like civilized discourse. We don't like spam, lying, profanity, harassment or personal attacks.

comments powered by Disqus