By Kevin Yamamura
Published: Thursday, Jun. 21, 2012 – 12:00 am | Page 4A
As Democratic state leaders continue budget negotiations, Gov. Jerry Brown’s tax hike on sales and upper-income earners officially qualified Wednesday for the November ballot, as did two other tax measures.
Brown’s tax initiative will be joined by a rival measure to hike income taxes on all but the poorest residents as well as an initiative to raise taxes on multistate corporations based elsewhere, the secretary of state’s office announced.
A total of 11 measures, including a water bond, are now on the November ballot.
Brown and lawmakers are counting on voters to approve his tax plan to generate an estimated $8.5 billion in the current budget cycle, which provides additional funding for schools and helps bridge the state’s $15.7 billion deficit.
His initiative would raise sales taxes by a quarter-cent on the dollar. It would also hike income taxes starting at $250,000 for individuals and $500,000 for joint filers.
To read entire story, click here.