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California's largest teachers union has given more than $13 million to the effort to extend income tax hikes on California's highest earners, according to newly released state campaign finance reports.
The report shows the California Teachers Assn. gave $3 million between April and June this year, in addition to the $10 million the union donated last month.
Before the $10-million contribution, supporters of the Proposition 55 campaign reported having $14 million in the bank. Also supporting the measure are the California Hospital Assn., Service Employees International Union and the California Medical Assn.
Proposition 55 would extend temporary taxes first approved by voters in 2012 by 12 years. Single filers earning more than $263,000 a year and joint filers reporting more than about $526,000 would continue to pay higher rates through 2030. The independent Legislative Analyst's Office has estimated Proposition 55 could bring in as much as $7.5 billion in tax revenue by 2019.
The state budget passed in June doesn't rely on the tax passing, but Gov. Jerry Brown's administration has warned the state could see deficits if the ballot measure doesn't win on Nov. 8.
So far, there is no organized opposition to Proposition 55.