Voters in November will be asked to decide on Proposition 30, an initiative that would raise new state revenue through temporary increases in the state sales tax and the personal income tax on those who earn $250,000 or more per year. It is sponsored by Gov. Jerry Brown and is part of the 2012-13 budget approved by state lawmakers.
The University of California Board of Regents has endorsed Prop. 30, noting that if the initiative fails, the UC system is scheduled to receive a budget reduction of $250 million this year and lose an additional $125 million next year. (Please see complete story from UC's Office of the President.)
At UC Santa Cruz, the Alumni Council has also endorsed the measure; so has the UCSC Foundation.
Prop. 30 has active campaign organizations on both sides. Opponents of the measure say that the initiative would harm small businesses; they emphasize that it raises taxes on all Californians, not just the wealthy. Supporters say it will help stabilize the state's fiscal picture and prevent deep budget cuts to public education. A majority vote will decide the issue on November 6.
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