A lobbying group for California hospitals is giving $8.5 million to an initiative campaign to extend a temporary tax increase on the wealthy.
The political arm of the California Association of Hospitals and Health Systems reported the March 23rd donation on Wednesday.
The ballot initiative would continue existing voter-approved income tax increases in Proposition 30 for 12 years beyond their scheduled expiration. It is one of two proposals approved to collect signatures to extend the tax-increase measure.
The tax increase is anticipated to raise between $5 billion and $11 billion a year. Much of the money would be earmarked for education and health care.
As of early March, the group had collected about a quarter of the 585,000 signatures needed to qualify for the ballot.