Tax News in Gubernatorial Races Across the Country
October 4, 2010
Proposition 22 would amend California’s Constitution to take away the state’s ability to borrow or shift revenues that fund transportation programs. For more information, read the California Budget Project’s brief on the initiative.
Proposition 24 would eliminate several business tax breaks enacted in 2008 and 2009 and increase state revenues by more than $1.3 billion. For more details on these tax breaks, read the California Budget Project's Budget Brief on the initiative.
Proposition 25 would remove the current two-thirds super-majority requirement needed to pass the state budget (replacing it with a simple majority vote), while Proposition 26 would institute a new super-majority requirement for raising certain fees (classifying them as taxes). For more details on these initiatives, read the California Budget Project’s initiative summaries.