Prop 3 locks school tax in place

California voters approved Proposition 3 on Tuesday, with 58.7% voting yes, making permanent income tax rates of 10.3% to 12.3% on individual earnings above about $371,000; the measure does not raise taxes. The tax is estimated to generate $5 billion to $15 billion annually, with most education funding going to K-12 schools and the rest to community colleges.

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