The election of Donald Trump as president, the first by a candidate who has never held political office of any kind or a top position in the military services, was not the only memorable result of this year’s national election.
There were many state ballot initiatives, including ones to legalize the sale of recreational marijuana, which would be taxed and could boost state revenues. Voters in four states approved the sale of recreational cannabis—California, Maine, Massachusetts and Nevada—but in Arizona voters defeated the measure.
In addition, several states had ballot questions to raise personal or corporate income taxes as well as sales taxes, which ThinkAdvisor reported on before Election Day. Here’s an update:
In Colorado—one of the few states that had legalized recreational marijuana sales before this year—voters rejected overwhelmingly an additional 10% payroll tax to fund a public option healthcare system called Colorado Care. If passed, the measure would have made Colorado the first state with a tax-funded universal health care plan.
By a margin of 62% to 38%, California voters approved a 12-year extension of a temporary income tax increase on high earners. Individuals earning more than $250,000 or couples earning more than $500,000 will pay an additional 1% to 3% in state income tax. The funds raised will continue to be used to help finance public schools and community colleges and health care programs.
Voters in Maine also approved an increase in the income tax for high earners but the margin for that vote was much tighter than California’s: roughly 50-50, with just over 6,000 votes, or 0.8%, making the difference. The funds will be used for educational expenses, raising the state’s contribution to education costs for K-12 to 55%.
In addition to raising taxes on its wealthier residents, Maine voters also approved a higher minimum wage for its lowest income workers. The minimum wage will increase gradually from $7.50 an hour currently to $12 an hour by 2020.
(Related: Trump’s Plan Aims to Repeal Estate Tax, AMT)