The measure, appearing as Proposition 3 on the November 3, 2026 ballot, would permanently extend higher marginal income tax rates on earners above roughly $360,000 (single) or $721,000 (joint) that voters first approved in 2012 and extended in 2016. It qualified easily in June 2026 after education groups submitted more than 960,000 valid signatures, well above the threshold. Supporters, led by the California Teachers Association and allied unions, emphasize the projected $5–15 billion in annual revenue allocated primarily to K-12 schools and community colleges. The 73% implied probability for passage reflects strong institutional backing from education advocates, the measure’s direct tie to ongoing school funding, and California voters’ record of approving similar tax extensions, though opposition from taxpayer groups and interaction with the separate billionaire wealth tax proposal on the same ballot introduce some uncertainty ahead of the vote.