Wednesday, October 17, 2012

Comparison Prop.30 and Prop. 38.

Yes on Prop. 30

No on Prop. 38
Impact on CSU
CSU avoids a $250 million trigger cut.
Students receive $498 tuition refund. Provides revenue for future faculty bargaining.

Does nothing for the CSU system, students, and faculty.
Helps Balance State Budget
Expected to generate over $7 billion annually and will balance the state budget by paying back debt to education.
Expected to contribute $1.5 billion in 2012-13 and $3 billion thereafter to pay back state general obligation bond debt for only four years.

Prop. 98 Impact
All funding will go through the state’s general fund and helps repay the money owed to public education.
These funds cannot be used to support the Prop. 98 guarantee and do not help pay back what is owed to public education. Creates another state special fund.

Who’s Taxed?

Families with incomes over $500,000 and 0.25% increase in sales tax rate. The income tax increase focuses on high earners.
Income taxes are raised on all income levels for almost all Californians. It will be a significant hit to the middle class.
Attractive to Broad Coalition

Education, labor and business support Prop 30 as it helps balance the state budget by paying down the wall of debt and providing funding for public education.
Due to a narrow focus on K-12 and early childhood education, higher education and other essential services are left out.
How Much $/Year
$8 to $10 billion annually.
$8 to 10 billion annually.
Funds Education and Other Services
Frees up general fund money to pay for higher education and other public services.
Funds go to early childhood and K- 12 education BUT can’t be used to fund existing teachers, education support professionals and other school staff. NO support for higher education and other essential services.
What if both pass in November?
The initiative with the most votes prevails, if both exceed 50% of the “yes” votes.
The California Faculty Association strongly supports Proposition 30. 
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