I can just imagine what tuition will be 5 years after this passes. Double? Triple? And of course, the tax will then have to be increased.
The text for initiative actually says that eventually they will to make cuts or find another revenue source.
“Summary of estimate by
Legislative Analyst and Director of Finance of fiscal impact on state and local government:
Annual loss of state tuition revenue of about $2.8 billion per year beginning in 2013-14, backfilled
by additional state personal income tax revenue that is likely to total $2 billion or more per year.
Potential shortfalls in university resources in some fiscal years would have to be addressed
through some combination of cost reductions and alternative funding sources, which could create
pressure on the state General Fund. (11-0086)”
http://collegeforcalifornia.org/Home/wp-content/uploads/2012/01/Text-of-Initiative.pdf
http://collegeforcalifornia.org/Home/the-initiative/