California voters lock in permanent tax on high earners to bankroll schools with Prop 3

California voters on Tuesday approved Proposition 3, making permanent a tax on the state’s highest earners that pumps billions of dollars a year into public schools and community colleges, according to the Associated Press.California’s Proposition 3 drew strong support, with 58.7% voting yes (4.4 million votes) compared with 41.3% voting no (3.1 million), according to Associated Press figures released early Wednesday morning.The measure, a constitutional amendment, does not raise taxes.The biggest news, opinion and culture shaping California right now.

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Never miss a story It locks in the higher income tax rates — ranging from 10.3% to 12.3% — that California has charged its top earners since 2012, which are otherwise set to expire after 2030.The rates apply to individual income above about $371,000, a threshold adjusted each year for inflation.

Taxpayers below that line are not affected.The tax brings in an estimated $5 billion to $15 billion a year, according to the state’s nonpartisan Legislative Analyst’s Office.Under the measure, 89% of the education money goes to K-12 schools and 11% to community colleges, with excess funds going to health care in certain years.

In flush years, the revenue makes up about 15% of the state’s K-12 budget.It is the third time voters have weighed the tax.It first passed in 2012 as Proposition 30, a temporary measure pitched by then-Gov.

Jerry Brown to help schools recover from the Great Recession, and voters extended it in 2016 with Proposition 55.Combined with the state’s separate 1% surcharge on income over $1 million for mental health services, California’s top earners pay a 13.3% rate — the highest state income tax in the nation.The California Teachers Association placed the measure on the ballot and poured about $30 million into the campaign.Supporters...