Proposition 53 is a commonsense measure that will simply:
- Close the loophole that allows politicians to issue massive new debt to pay for multi-billion dollar projects — without giving Californians the right to vote.
- Require statewide voter approval for state revenue bond projects costing more than $2 billion.
- Hold Sacramento politicians accountable by requiring all multi-billion dollar state bonds go to a vote of the people.
- Give voters a say when state government wants to incur enormous new debt that the public will have to repay.
- Ensure voters understand the full cost of future projects, including interest payments, that they are expected to pay.