Surprisingly, San Diego voted against the measure with a healthy 13% margin. But, San Diego also voted for Biden en masse by over 23%, pointing to the interesting response the law change provoked from small businesses.
Opposition to the change was widespread with a large contingent coming from businesses across California. “From day one, we knew that if voters understood the harm this deeply flawed tax hike would impose on California’s economy and its families, farmers and small businesses, voters would reject this ill-advised effort,” said Rob Lapsley, president of the California Business Roundtable and co-chair of the No on Prop 15 campaign.
While proponents of Prop. 15 are disappointed by the results, there is a chance that this issue will return yet again in 2024 or later on. They estimated that the ballot measure if approved and fully implemented, will generate $8 billion to $12.5 billion in annual revenue which will be distributed to specific areas instead of going directly to the California General Fund. Therefore, in a 60-40 split, local governments and schools will have around $6.5 billion to $11.5 billion in new funding a year.
