The Proposition 82 Effect

Cohen, Jackie
May 2006
Bond Buyer;5/31/2006, Vol. 356 Issue 32392, p1
Trade Publication
The article presents information on the effect of Proposition 82 on the bond market in California. If the voters approve it there can be some increased demand from the wealthiest investors in the bond market. This would impose around 1.7% surtax on taxable annual incomes with a variation in the amount imposing on individuals, married couples and heads of households. An expert in the bond market comments that if the proposal gets approval the after-tax yield on the state and local municipal bonds would rise 10 to 15 basis points in effect.


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