Ballot Measure to Make Affordable Housing and Public Projects Easier to Finance Fails
Proposition 5, a ballot measure aimed at making it easier to finance affordable housing and other public projects in California, has failed.
Results
As of Friday afternoon, Proposition 5 was trailing 56% to 44% in the vote count, with a 1.3-million vote margin, according to tallies from the Secretary of State’s office.
What the Measure Would Have Done
The measure would have decreased the approval threshold for local bonds from two-thirds to 55%. Backers said it was necessary to help build low-income housing, expand roads and transit, renovate parks, and construct other public infrastructure.
Opposition
Opponents argued that the tax increases that would have resulted from easier approvals were too expensive.
Statement from Opponents
“Proponents of Proposition 5 asserted repeatedly that their measure was not a tax increase, but simply ‘asking the question’ to see if voters wanted to ease the vote requirement for raising taxes,” said the Howard Jarvis Taxpayers Assn., a main opponent of Proposition 5, in a statement. “That question has now been answered.”
Supporters’ Response
Supporters of the measure, a group of housing, local government, union, and other advocates, acknowledged its defeat Friday.
Statement from Supporters
“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 needs to take serious, transformative action to build more housing that is affordable and improve critical infrastructure in our communities.”
Conclusion
Despite the defeat of Proposition 5, the issue of affordable housing and public project financing remains a pressing concern in California. It is clear that the state needs to take bold action to address these issues, and supporters of the measure will likely continue to advocate for reforms.
FAQs
Q: What was Proposition 5?
A: Proposition 5 was a ballot measure aimed at making it easier to finance affordable housing and other public projects in California by decreasing the approval threshold for local bonds from two-thirds to 55%.
Q: What were the results of the vote?
A: As of Friday afternoon, Proposition 5 was trailing 56% to 44% in the vote count, with a 1.3-million vote margin, according to tallies from the Secretary of State’s office.
Q: What were the arguments for and against the measure?
A: Supporters argued that the measure was necessary to help build low-income housing, expand roads and transit, renovate parks, and construct other public infrastructure. Opponents argued that the tax increases that would have resulted from easier approvals were too expensive.
Q: What does the defeat of Proposition 5 mean for the future of affordable housing and public project financing in California?
A: The defeat of Proposition 5 means that the issue of affordable housing and public project financing will continue to be a pressing concern in California. It is likely that supporters of the measure will continue to advocate for reforms to address these issues.
