• Comment ()

Gov., Dems announce deal on remaining CA budget

June 21, 2012 RSS Feed Print

Brown's proposal would backfill the state's general fund and guarantee funding to local governments for public safety. It would raise income taxes on a sliding scale on incomes over $250,000 a year for seven years and raise the state sales tax by a quarter cent for four years.

The rival proposal, backed by Los Angeles attorney Molly Munger, would raise income taxes on nearly all Californians on a sliding scale for 12 years, with the biggest increase on the wealthiest Californians.

Revenue from her proposal would go directly to public schools, while Brown's measure would use the money to prevent deeper cuts to schools and guarantee money for local public safety.

____

Associated Press writers Hannah Dreier and Don Thompson contributed to this story.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tags:
business,
Associated Press,
United States

Reader Comments ()

Photo Galleries

Storms, Wildfires Tear Across U.S.

Heavy rain, high winds and fire continue to plague regions throughout the country.

advertisement

Latest Videos