National Press Club Newsmaker Program: California's Millionaire's Tax - Is it a Model for the Nation?

Featuring Rick Jacobs, Courage Campaign founder and chairman, 10 a.m. June 12, Zenger Room

WASHINGTON, June 5, 2012 /PRNewswire-USNewswire/ -- In November, California voters will decide whether taxes should be raised on individuals who earn more than $250,000 per year, in an effort to boost funding for schools and social programs, as well as to retire the state's $16 billion deficit.

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Will California's vote serve as a model for those in state and federal government who want to increase revenue? Will the California vote influence the debate over eliminating the Bush-era tax cuts on high-wage earners?

A coalition of progressive organizations that included the California Federation of Teachers and the Courage Campaign led the effort to bring this tax initiative to the ballot.

California Governor Jerry Brown and most other officeholders in Sacramento had initially favored a tax initiative based on raising the state's sales tax. Under pressure from the liberal coalition, the governor compromised and agreed to back a more progressive tax increase on those with high incomes combined with a much smaller sales tax hike.

Rick Jacobs is founder and chairman of the California-based Courage Campaign, a grassroots network of more than 750,000 activists, which pushes for progressive change and full equality in California and across the country.

SOURCE National Press Club

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