UCLA Anderson Forecast says Prop 30 will be slight drag on California economy (LA Daily News)

December 5, 2012 – Proposition 30, the tax-raising measure voters approved by a comfortable margin in last month’s election, will slow economic growth in California but won’t derail the fledgling recovery, a study released Wednesday said. “There won’t be a major impact on the California economy, but there will be some effect,” said Jerry Nickelsburg, senior economist with the UCLA Anderson Forecast, which issued the report as part of its quarterly survey of the statewide and national economies. The measure, approved by a 54 percent-to-46 percent margin by California voters, retroactively raised income taxes on residents who make $250,000 or more a year. And starting Jan. 1, Prop. 30, designed to ward off draconian cutbacks in state education spending, will impose higher sales taxes on everyone.

Link to Full Article: http://www.dailynews.com/business/ci_22125172/ucla-anderson-forecast-says-prop-30-will-be

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