California voters OK increase to sales, wealthy income taxes
{{#rendered}} {{/rendered}}California voters have approved Gov. Jerry Brown's plan to raise income taxes on the wealthy and raise the statewide sales tax to fund K-12 schools and help balance the state budget.
The Proposition 30 vote was close and its passage was not clear until early Wednesday.
Its passage increases the statewide sales tax by a quarter cent for four years, starting in January, while people who make more than $250,000 a year will pay higher taxes for seven years retroactive to the beginning of 2012.
{{#rendered}} {{/rendered}}Click for 2012 California race results
If voters had rejected it, the Democratic governor had pledged to enact $6 billion in cuts to schools and colleges.
Conservative opponents spent as much as $53 million to defeat the measure, while unions and Democratic activists poured nearly $70 million into the yes campaign.