CalTax

Newsom Proposes Budget With Business Tax Relief Provisions

On January 10, Governor Gavin Newsom released his budget for the 2022-23 fiscal year, a $286.4 billion plan that proposes restoration of business tax credits …

Two California Firms Moving to Lower-Cost States

Two California-based companies announced this week that they are moving operations to states with lower costs.

State Forecasts $20.2 Billion Year-End Deficit in Unemployment Insurance Fund

California’s unemployment insurance (UI) fund will end the year with a $20.2 billion deficit, the Employment Development Department (EDD) projected in its latest Unemployment Insurance Fund Forecast.

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Call to Action

CalTax is fighting to save Proposition 13 and stop taxes that would make California even less affordable for residents and businesses.

In 2020, voters rejected the largest proposed property tax increase in state history. The ballot measure – Proposition 15 – would have eliminated Proposition 13 protections for many properties in California, resulting in higher rent for countless small businesses, and higher prices for just about everything we buy and use (including groceries, fuel, utilities, day care and health care).

Supporters of Proposition 15 have promised to reintroduce this flawed tax that would cost taxpayers an estimated $12 billion per year. That’s why taxpayers must stay vigilant and protect existing safeguards.

In addition, the Legislature is also seeking to pave the way for higher taxes – at a time when unemployment is at a record high and barbers, waiters, hotel workers and many others are struggling to make ends meet. ACA 1 would lead to higher costs for homeowners, renters and businesses. We’re also fighting legislative proposals that would impose sales tax on services and place a new $2 billion tax on businesses (AB 71).

CalTax is working hard to defeat these unnecessary taxes, but we can’t do it alone. Email Lexey@caltax.org for information on how you can help.

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