No on Prop 3

[Brad Forschner]

A “no” vote opposes amending the state constitution to indefinitely extend the top marginal tax rates on single filers earning at least $361,000 or joint filers earning at least $721,000, thereby allowing them to expire in 2031.

Wayne Winegarden, senior fellow at the Pacific Research Institute:

“Extending these income tax rates, it’s hitting that same pressure points and it’s causing the same incentives to leave. And if you look at the latest IRS migration data, you can see it. People with greater means are leaving the state.”

Jared Walczak, senior fellow at the Tax Foundation:

“Californians need to take that into account when they think about future potential temporary taxes — that once they adopt them, it’s very hard to walk away from them, even if their initial design is temporary.”

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