Supporters of a tax initiative that would raise money for K-12 education are launching signature gathering efforts to get the measure on the November ballot. Attorney Molly Munger is backing the tax increase initiative along with the California State PTA. Munger said her measure would mostly provide funds to shore up education but would also pay down school bond debt to reduce the state’s budget deficit.
“We’re being responsible in that regard. We can recover from the economic problem and we will. We can’t recover if we don’t move now to put investment back in the education of the kids,” said Munger. The measure would raise income tax rates on a sliding scale for all wage earners with top earners paying the most.
Governor Jerry Brown is pushing his own measure that would raise taxes on high incomes and sales. A third measure that’s also aiming for the November ballot would increase income taxes on the wealthy.
