A big policy discussion now appears headed to the June 2006 ballot: should the state raise taxes on higher-income earners, and use the proceeds to provide preschool education for every California child?

The initiative, which has been spearheaded by actor/director/activist Rob Reiner, reportedly now has 1 million signatures-- more than enough to qualify for next year's primary ballot. A formal announcement is being made Thursday morning in San Francisco.

In a nutshell, the initiative would provide part-day preschool for every 4 year old California child. The program wouldn't be required to begin until the 2010-11 school year, except for some preschool expansion next year. After that, its requirements would be phased in over the next decade.

To pay for all this, the initiative would raise taxes on single filing adults who make $400,000 or more, and couples earning $800,000 or more.

Of course, these more affluent taxpayers are also being eyed by some in the Capitol who say a similar tax increase is needed to help solve the state's chronic budget deficits. In fact, the initiative says if lawmakers raise taxes on the same group prior to the June election, the initiative's tax hike will be delayed by 3 years. But at that point, it would add the preschool tax on top of the already higher tax rate.

All of this leaves policy makers, and voters, in a thorny situation. Is universal preschool a higher priority than existing state programs that might need those new tax revenues? And what will voters do, when faced with something they usually support (education), versus something they usually oppose (higher taxes)?