On December 5th, Governor Jerry Brown filed an initiative with the California Attorney General’s office which, if passed, would impose a variety of new taxes with the aim of raising nearly $7 billion in revenue. This money would be dedicated funding for education and public safety programs, which have seen enormous cuts as a result of the recent and ongoing budget crisis. If approved by the voters, the initiative would institute two new taxes. First, individuals making $250,000 or more would pay up to 2% higher income taxes for five years, and second, the state sales tax would be temporarily increased by 0.5%, up to 7.75%, through 2017.
