“Voters are being asked to make permanent changes to the state constitution, and those are far harder to undo than to pass,” Kersey added.
According to the group, Propositions 1 and 37 both address housing, with Proposition 1 adding “roughly $580 million a year in general fund debt service for about 30 years — some $17.4 billion in principal and interest, paid regardless of how the funded programs perform.”
In contrast, Proposition 37 “pursues an overlapping goal through $25 billion in revenue bonds repaid by the borrowers themselves, at no direct cost to government according to the Legislative Analyst’s Office,” the association said.
Proposition 3 “would strike the 2030 expiration date from an income tax surcharge voters were twice told was temporary, deepening the state’s reliance on a small group of top-bracket filers who already supply roughly half of all personal income tax revenue,” the group said, adding Proposition 40 “raises the mirror-image problem.”
Proposition 40 is a one-time tax “on the net worth of roughly 200 people to Medi-Cal, an ongoing entitlement whose costs do not stop when the revenue does,” the San Diego group added.