San Jose Mercury News says Yes on Prop. 55

Major Bay Area Newspaper Calls for Extension of Taxes on the Wealthiest to Protect Students & Schools

SACRAMENTO – The Mercury News, representing much of the Bay Area, has endorsed Prop. 55, urging a yes vote to extend the temporary income tax increase on the wealthiest Californians.

The editorial agrees that the extension of the taxes on the highest earners under Prop. 55 is reasonable and needed because, “…the money is aimed at essential services — primarily education, with a small portion for healthcare. Given that the state’s economy has soared over the past four years and wealth has continued to flow mainly to the already wealthy, it’s hard to argue the tax increase has been onerous.”

The editorial goes on to note that when another economic downturn hits, having Prop. 55 in place will help make any necessary spending cuts less harmful.

To read the full editorial, click here.

The Mercury News joins a coalition of more than 250 elected leaders, education advocates, community groups, business leaders and labor organizations in endorsing Proposition 55.

A recent Public Policy Institute of California (PPIC) survey found that 64% of voters support extending the income tax rates on the wealthiest individuals and couples to spare education and other vital services from a repeat round of devastating budget cuts.