{"id":6913,"date":"2026-06-12T23:32:02","date_gmt":"2026-06-12T23:32:02","guid":{"rendered":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/12\/amid-billionaire-tax-battles-ca-millionaire-tax-extension-faces-few-foes-2\/"},"modified":"2026-06-12T23:32:02","modified_gmt":"2026-06-12T23:32:02","slug":"amid-billionaire-tax-battles-ca-millionaire-tax-extension-faces-few-foes-2","status":"publish","type":"post","link":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/06\/12\/amid-billionaire-tax-battles-ca-millionaire-tax-extension-faces-few-foes-2\/","title":{"rendered":"Amid \u2018billionaire\u2019 tax battles, CA \u2018millionaire\u2019 tax extension faces few foes"},"content":{"rendered":"
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A proposed constitutional amendment designed to extend California\u2019s voter-approved income tax surcharge on high earners has qualified for the November 2026 statewide ballot, according to Secretary of State Shirley Weber.<\/p>\n

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Proposition 30 was passed by voters in 2012, during the Great Recession-era budget crisis, and voters extended it in 2016. Supporters like the California Teachers\u2019 Association now argue the state\u2019s reliance on those revenues has become embedded in long-term education spending commitments, including expanded transitional kindergarten and universal school meals.<\/p>\n

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Under existing law, the tax will sunset in 2030, an outcome the CTA argues would cause at least a $10 billion annual reduction in state funding to public schools and community colleges.<\/p>\n

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While some supporters have dubbed it a \u201cmillionaire\u2019s tax,\u201d the levy actually applies to couples earning more than $680,000 or individuals earning more than $340,000. Working from the pre-2102, 9.3% tax rate, the measure adds between 1% and 3% to payers\u2019 tax rates based on their income levels.<\/p>\n

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California\u2019s 13.3% income tax rates for top earners are the highest of any state.<\/p>\n

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The measure has been overshadowed by a separate proposal backed by the SEIU United Healthcare Workers West to impose a one-time, 5% tax on billionaire\u2019s wealth. All but 10% of that funding would go to address federal healthcare. The CTA’s 800 representative delegates came out against that proposal at their June meeting, arguing \u201cthis policy will not provide the sustainable and long-lasting funding that our schools and communities deserve,\u201d according to a statement released by the group.<\/p>\n

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