California Proposition 3 would amend the state constitution to make permanent the top marginal income tax rates on high earners, originally enacted via Proposition 30 in 2012 and extended through 2031 by Proposition 55. The measure, which qualified for the November 2026 ballot in June with support from the California Teachers Association and allied education unions, preserves annual revenue of $5–15 billion directed primarily to K–12 schools and community colleges. Trader consensus at 70.5% for approval reflects repeated past voter approval of similar extensions, the absence of new tax increases, and limited organized opposition amid competing ballot measures on wealth taxes. The November 3 election remains the key resolution trigger.