Prop. 13 is too important to Californian taxpayers to allow special interest to tear it apart so they can have more money.
California needs more affordable housing.
If the initiative ACA 1 passes, new local taxes and bonds related to “affordable housing” and infrastructure would require just 55% of voters, doing away with the current two-thirds threshold. Californian residents and small businesses can expect to shell out hundreds of millions, if not billions of dollars every year in higher taxes as local governments bury them in debt.
ACA 1 would repeat and expand failed government housing measures by directly undermining Proposition 13, the popular 1978 constitutional amendment that shields California taxpayers against a wide array of tax hikes. Since most government bonds are eventually paid, with interest, by increased taxes on property owners, the two-thirds vote requirement to approve new bonds has served as an effective protection against higher tax bills.
In fact, those efforts are already underway. Bay Area voters will likely decide on a massive $20 billion housing bond next year. If ACA 1 passes and that bond is also approved by 55% of voters in November, taxpayers will be on the hook for repaying all of that new debt.
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