October 9, 2016
Continues Income Tax on Wealthy to Fund Schools
The most important thing we can do as a state is to invest in the next generation. Prop 55 does exactly that, and no one pays more in taxes than they are paying now.
In a Nutshell
- Extends current, temporary income tax rates on Californians earning over $250,000 a year or $500,000 for a married couple.
- This tax has been in place since 2012, when it was passed to prevent cuts to schools. Prop 55 extends the income tax for 12 more years.
- It will generate $4-9 billion a year.
- Approximately 50% will go to schools.
- The rest will go to healthcare, paying down debt, and saving for a rainy day.1
Effect on SEIU Members
- One in three SEIU members in California works in education or healthcare. Prop 55 provides billions of dollars to fund their vital work.2
- All workers with children in school or community college will benefit from having better funded schools and colleges.
- 75% of SEIU workers work for public employers: counties, cities, schools, colleges, the state, and home care public authorities.3 By preventing budget deficits of $4 billion by California in 2019,4 Prop 55 helps all public workers.
California Teachers Association
California Medical Association
California State PTA
The most important thing we can do as a state is to invest in the next generation.
- We need to pass Prop 55 in order to prevent $4 billion in cuts to our schools and help our children thrive.
- No one will pay a higher tax as a result of Prop 55; the wealthiest Californians will simply not be receiving a tax cut.
- California can’t afford to go back to the days of overcrowding, school cuts, and layoffs.
Howard Jarvis Taxpayers Association
- This tax was supposed to be temporary, but now we are being asked to extend it.
- Taxing wealthy individuals will make them leave the state and move jobs away from California.
For More Information:
- California Attorney General, Official Title and Summary for
- SEIU Membership Database, Sept. 2016.
- SEIU membership Database, Sept. 2016.
- “Jerry Brown’s Budget Blowout,” Wall Street Journal, May 18,
- Yes on Prop 55 website, http://www.protectingcalifornia.com/