What Would Proposition 38 Mean for California?

Form the California Budget Project:

A new CBP analysis looks at Proposition 38, which will appear on the November 6 statewide ballot. Proposition 38 would temporarily increase personal income tax rates on most California taxpayers, with the higher rates in effect for 12 years beginning on January 1, 2013. The measure would raise an estimated $10 billion in 2013-14 — the first full fiscal year of implementation -­- and could potentially raise larger amounts in following years. The new revenues would be allocated to K-12 education, early childhood education, and repayment of state general obligation bond debt.

http://www.cbp.org/pdfs/2012/120907_Proposition_38_BB.pdf