After weeks of battling in public and negotiating behind the scenes, Gov. Jerry Brown and the California Federation of Teachers have reached a compromise on a November tax initiative.
The deal would result in a smaller sales tax hike and larger tax increase on the wealthy than the Democratic governor wanted. CFT had been circulating an initiative with no sales tax hike and a two-step increase on earners starting at $1 million.
"This united effort makes victory more likely and will go a long way toward balancing our budget and protecting our schools, universities and public safety," Brown said in a prepared statement Wednesday afternoon.
Update: Remember this post from last Friday? My closing line was definitely predictive.