California Assembly Preps Business Tax Increase to Fund Homeless Programs
California lawmakers are seeking to address the state’s growing homelessness problem with a proposed tax hike on businesses making more than $5 million annually in the state.
Proponents say Assembly Bill 71 (AB 71), also known as the Bring California Home Act, would restore corporate tax rates to 1980s levels to provide an estimated $2.4 billion annually to fund state homeless programs but opponents argue the tax hike would cost the state business while not addressing the problem properly.
“History has shown us that throwing more money at the problem doesn’t work,” Scott Kaufman, the legislative director of Howard Jarvis Taxpayers Association, told The Epoch Times.