Two Democratic California assemblymen want to raise the state’s business taxes in response to Republican President Donald Trump’s federal tax cut. (Image source: YouTube screenshot)
© 2024 Blaze Media LLC. All rights reserved.
State's Democrats want business tax hike in response to Trump's tax cut. The state is no surprise.
January 19, 2018
A pair of Democratic California assemblymen want to raise the state’s business taxes in response to Republican President Donald Trump’s federal tax cut, the Los Angeles Times reported.
Who's behind the proposal?
Assemblymen Phil Ting of San Francisco and Kevin McCarty of Sacramento introduced a measure Thursday that would raise corporate taxes on companies with revenues over $1 million — and would amount to half of what the companies get through the federal tax cut, the paper said.
Assemblyman Phil Ting (Image source: YouTube screenshot)
“I’ve seen enough billionaire justice in the first 11 months of this presidency to last my lifetime,” McCarty said in a statement, the Times reported. “At a time when reckless federal tax policy favors billionaires over middle-class workers, ACA 22 will help ensure that California can continue to grow and support middle-class families throughout the state.”
Assemblyman Kevin McCarty (Image source: YouTube screenshot)
But will it pass?
However, adoption of the proposal looks to be a long shot, the paper said, as it needs supermajorities in both houses of the state legislature — plus voter approval on the November 2018 ballot.
Want to leave a tip?
We answer to you. Help keep our content free of advertisers and big tech censorship by leaving a tip today.
Want to join the conversation?
Already a subscriber?
Sr. Editor, News
Dave Urbanski is a senior editor for Blaze News.
DaveVUrbanski
Dave Urbanski
Sr. Editor, News
Dave Urbanski is a senior editor for Blaze News and has been writing for Blaze News since 2013. He has also been a newspaper reporter, a magazine editor, and a book editor. He resides in New Jersey. You can reach him at durbanski@blazemedia.com.
@DaveVUrbanski →more stories
Sign up for the Blaze newsletter
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.
© 2024 Blaze Media LLC. All rights reserved.
Get the stories that matter most delivered directly to your inbox.
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.