Temporary Taxes to Fund Education. Guaranteed Local Public Safety Funding.
Increases taxes on earnings over $250,000 for seven years and sales taxes by 0.25% (one cent on every $4) for four years, to fund schools. Guarantees public safety realignment funding. Fiscal impact: Increased state tax revenues through 2018-19, averaging about $6 billion annually over the next few years. Revenues available for funding state budget. In 2012-13, planned spending reductions, primarily to education programs, would not occur.