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A ballot measure to make it easier to fund affordable housing and other public projects in California has failed.
As of Friday afternoon, Proposition 5 was 56% to 44%, a difference of 1.3 million votes, according to a tally by the Secretary of State’s Office.
This measure will lower the approval standard for local bonds from two-thirds to 55%. Supporters said they need to help build low-income housing, expand roads and transit, renovate parks and build other public infrastructure.
Election results to date have shown that while dozens of local bond measures have received approval ratings above 55%, they have fallen short of the required two-thirds majority, meaning that Prop. This means that it may lead to a project.
But opponents argued that tax increases would be too costly if approval were made easier.
“Supporters of Prop. 5 have repeatedly asserted that their measure does not raise taxes, but merely ‘asks’ voters whether they would like to relax the requirements for voting on a tax increase.” said the opponent, the Howard Jarvis Taxpayers Association. Suggestions in the statement 5. “That question has already been answered.”
The bill’s supporters, including housing, local government, labor unions and others, conceded the measure’s defeat Friday.
“The fight to address California’s housing crisis and infrastructure needs is far from over,” the Yes on 5 campaign said in a statement. “California must take serious and transformative action to build more affordable housing and improve critical infrastructure in our communities.”
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