For the Center on Budget and Policy Priorities’ annual state policy conference, IMPACT 2017: Building Power, Advancing Equity, Executive Director Chris Hoene delivered a presentation for: “Taking a Page Out of a Better Book: How to Make the Case for Public Investment over Tax Cuts.”
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Fact Sheet
Corporations Pay Far Less of Their California Income in State Taxes than a Generation Ago
Calling California home means sharing in the responsibility of creating strong communities. Yet, corporations are contributing roughly half as much of their California profits in state taxes than four decades ago. In the early 1980s, corporations that reported profits in California paid more than 9.5% of this income in state corporation taxes. In contrast, corporations … ContinuedTaxes & Revenue -
Fact Sheet
California Loses Nearly $70 Billion Annually Through Tax Breaks
California will lose an estimated $69.2 billion in state General Fund revenues in 2021-22 to personal and corporate income tax breaks — or “tax expenditures.” Many of the state’s largest tax breaks primarily benefit higher-income households and businesses, while just a fraction of the state’s tax … ContinuedTaxes & Revenue
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