Taxes represent our shared effort to support vital public services and systems that underpin a robust economy and strong communities. The Budget Center’s works to highlight the importance of having a tax system that not only provides sufficient resources, but also asks individuals, families, and businesses and other organizations to contribute based on their ability.
The Federal Opportunity Zones Program and Its Implications for California Communities
This report explores the federal Opportunity Zones (OZ) program, explains its structure and tax incentives, and how California’s communities may be affected. The report shows that the wealthiest investors will reap the greatest share of tax savings with OZ tax incentives, while community benefits of the program are uncertain.
California Can Raise Revenue for New Investments By Adopting Parts of Last Year’s Federal Tax Giveaway
This blog post shows that despite the severe deficiencies of the Tax Cuts and Jobs Act (TCJA), California policymakers now have an opportunity to raise state revenues to support new investments by adopting into the state tax code certain changes made by the TCJA.
Corporations Pay Far Less of Their California Income in State Taxes Compared to the Early 1980s
This Fact Sheet shows that, since the early 1980s, California lawmakers have enacted a number of corporate tax breaks and cut corporate tax rates and that California corporations are likely to pay far less of their income in federal taxes due to the 2017 Tax Cuts and Jobs Act.