New initiative would extend high-income tax to support education 

A new ballot initiative would keep a tax on high-income earners in place to fund education in California.

Proponents seek to make the 2012 income tax increases approved under Proposition 30 permanent.

The backstory: Voters approved Prop. 30 to increase the state sales tax from 7.25% to 7.5% for four years and to create four new tax brackets for incomes exceeding $250,000. • In 2016, voters then approved Proposition 55 to extend the income tax increase through 2030.

The big picture: The new initiative, which has received approval from California Secretary of State Shirley Weber, would make the high-income tax increases portion of Prop. 30 permanent. • The tax rates would apply to personal income over $360,000 for single filers, $721,000 for joint filers and $490,000 for heads of hous