Proposition 38, the Molly Munger initiative, would raise income taxes on most taxpayers across the board. This increase would last from 2013 through 2024. The revenue would be directed to public schools, child care, pre-school programs as well as state debt payments.

Single filers earning $0 to $7,316 will not experience a tax increase and the same goes for joint filers earning $0 to $14,632. Single filer incomes ranging from $7,316 to $17,346 will experience a .4 percent increase making the total 2.4 percent. This same increase goes for joint filers with an income from $14,632 to $34,692.

The brackets continue to increase based on the level of income. The lowest proposed increase is .4 percent while the highest is 2.2 percent on single filers earning $2.5 million or more and joint filers earning $5 million or more.

The distribution of the revenue would be split up between schools, early care and education and state debt payments. From 2013 through 2015 schools would be receiving 60 percent of the revenue with early care and education receiving 10 percent and state debt payments receiving 30 percent. This same model has been adopted for 2015 through 2017.

From 2017 through 2024, the distribution of revenue changes. Schools will receive 85 percent, leaving 15 percent for early care and education, according to the California Secretary of State’s web page.

This initiative opposes Proposition 30. The key difference is in funding for higher education.

Supporters of this initiative include Molly Munger and the California State PTA.

Opposition to this initiative includes Gov. Jerry Brown, David Keiffer of the SEIU, The California Business Roundtable.