$9B bond to build and improve schools

While the California Democratic and Republican parties both support this, and I’m reluctant not to approve education funding, I agree with Governor Jerry Brown, likely Senator-to-be Kamala Harris and the San Jose Mercury News in opposing it as an inappropriate use of bonds. Bonds should finance one-time projects over many years, while 51 provides grants that should be part of the standard budget process (and effectively would be, given the principal and 5% interest would come out of the General Fund without accompanying tax increases).

With schools financed largely by property taxes, budget shortfalls are the direct result of Prop 13 (which I discuss more in the Prop 55 section). This means of funding does leave poorer districts underfinanced, but 51 carries no guarantee that funds will reach these districts. On the contrary, Gov. Brown’s core criticism is that funds are allocated according to first-come-first-served grant proposals, which are more likely to benefit affluent districts with capabilities to draft such applications. To ensure higher quality, more equitable education, Californians should (1) elect legislators who will approve financing under the normal legislative process (possibly including tax increases), (2) continue to raise property taxes locally, and (3) ultimately repeal Prop 13.