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California Assembly Preps Business Tax Hike to Fund Homeless Programs

businesses California homeless NY-Cal Southern California tax hike US US News Venice

California Assembly Preps Business Tax Hike to Fund Homeless Programs

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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. “We shouldn’t downplay the homelessness crisis; it clearly is a problem in California, and you can see it on your streets and city centers. But this is just California throwing money at the problem without actually seeing it through and thinking about it, and it’s …

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