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Has California given up its climate ambitions?
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California lawmakers revive coronavirus tax break for businesses
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Another California soda tax bill dies. Another win for Big Soda
Samantha Young
A rogue industry. A gun to our head. Extortion.
That’s how infuriated lawmakers described soft drink companies and what they pulled off in 2018 when they scored a legislative deal that bars California’s cities and counties from imposing taxes on sugary drinks.
Yet, despite its tarnished reputation, the deep-pocketed industry continues to exert its political influence in the nation’s most populous state, spending millions of dollars on politically connected lobbyists and doling out campaign contributions to nearly every state lawmaker.
The result? Bills long opposed by Coca-Cola Co., PepsiCo and other beverage companies continue to flounder. Just two weeks ago, a measure that would have undone the 2018 deal that lawmakers so vehemently protested was shelved without a hearing.
SACRAMENTO, Calif.
California lawmakers on Monday revived a multibillion-dollar tax break for some businesses after the Biden administration assured them the proposal would not jeopardize the state’s own federal coronavirus aid.
The federal government has given California companies about $97 billion in loans during the pandemic, the majority of which business owners won’t have to pay back. Congress already lets business owners deduct expenses associated with those loans from their federal taxes. But California business owners still owe state taxes on that money.
California lawmakers wanted to change that, and they were prepared to do it earlier this year. But they put it off because they were afraid the proposal could force them to lose some of their own federal coronavirus aid.
California soda tax bill dies in another win for Big Soda
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