Perhaps the biggest issue in front of voters, policy experts say, is Proposition 1A, which would increase the amount of money funneled into the state’s rainy-day fund, restrict spending from it and extend several temporary taxes. Proposition 1B, which is related, would require $9.3 billion to be paid to education to make up for shortfalls in spending levels set, as it happens, by Proposition 98, which voters approved in 1988.
Gov. Arnold Schwarzenegger, a Republican, has been campaigning for the measures, saying they would “stop that madness” of budget booms and busts.
But opponents say the first measure is just a reheated version of the spending cap that Mr. Schwarzenegger unsuccessfully tried to have passed in a 2005 special election.
“This is just his next attempt to put a fiscal straitjacket on the investments we need to build a better California,” said Mike Roth, a spokesman for the union-backed No on 1A coalition.