Confident that Californians will tax themselves to send more money to their local schools, Molly Munger is preparing for “a big air war” – extensive TV advertising to persuade voters to passProposition 38.
The Los Angeles attorney is bankrolling the “other” education initiative, one that would raise personal income taxes by $10 billion to fund K-12 and early childhood education. From the start of the campaign, Munger’s initiative has been trailing in the polls behind Proposition 30, Gov. Jerry Brown’s ballot measure to raise $6 billion from sales tax and the income tax on wealthy Californians. Munger has donated $20 million to the campaign so far and won’t say how much more she’ll spend.
Molly Munger during panel discussion on California education. Photo courtesy of Samantha James, Silicon Valley Leadership Group. (Click to enlarge)
But, in an interview Wednesday, she said she doesn’t view Prop 38 as an exercise in futility. “Do people really think that Steve (English, her husband)
CalSTRS estimates $22.7 billion savings from pension reform - by John Fensterwald
The pension reforms that the Legislature passed before skipping town on Friday will save the California State Teachers’ Retirement System $22.7 billion over 30 years, according to a preliminary analysis that CalSTRS released on Wednesday. But CalSTRS administrators cautioned that most of the savings won’t be achieved for decades, because reduced pension benefits will affect only employees hired...
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