This Fact Sheet shows that, since the early 1980s, California lawmakers have enacted a number of corporate tax breaks and cut corporate tax rates. This analysis also points out that California corporations are likely to pay far less of their income in federal taxes beginning in 2018 than they have in recent years due to the 2017 Tax Cuts and Jobs Act, meaning they can afford to contribute more to support the state’s public systems.
Director of Research Scott Graves spoke about the implications of various health policy proposals in the 2019-20 state budget proposal, including plans to expand coverage and help boost the affordability of insurance purchased through the individual market, for the USC Center for Health Journalism’s Collaborative Gathering.
For Thrive, the Alliance for Nonprofits for San Mateo County’s “Tax Time Matters,” Senior Policy Analyst Sara Kimberlin presented on how the California Earned Income Tax Credit (CalEITC) boosts economic security for low-income workers and the Governor’s proposal to significantly expand the credit in the 2019-20 state budget.
Gov. Gavin Newsom’s budget proposal calls for a “Working Families Tax Credit,” a dramatic expansion of the CalEITC, taking a decisive step forward on the path to economic stability. We applaud the governor for his staunch commitment to addressing affordability by prioritizing this issue in his first budget.
This “first look” analysis examines Governor Newsom’s proposed state budget for 2019-20, the state fiscal year beginning on July 1, 2019.