Brown Promises Reserve If New Tax Measure Passes
Tuesday, March 20, 2012
Special Feature KPBS Election Coverage
California Governor Jerry Brown is defending the deal he struck to keep a competing tax initiative off the November ballot. He says the compromise measure wouldn’t make the state’s finances more volatile. That’s despite an agreement with supporters of the Millionaires Tax to shift more of the burden to the wealthiest Californians.
“I don’t see volatility here, because we have a temporary tax, not a permanent tax. And I’m gonna build a reserve to guard against the falloff in revenue that comes from having so much reliance on the income tax," said Brown.
The governor says he and his wife have communicated with the proponent of a third November tax measure, wealthy civil rights advocate Molly Munger (like “hunger”). Brown called it a “cordial” and “nuanced” exchange that sets up “a very fierce campaign on the horizon.”
Munger has made clear she’s not backing down from her measure, which would tax all but the poorest Californians to increase local education funding.