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Saturday, Sep 23, 2023

State Democrats offer plan to tax the rich, corporations

SACRAMENTO – Democratic lawmakers detailed a list of tax increases totaling more than $8 billion, a share-the-pain proposal they said represents the best hope for filling a budget shortfall while maintaining California’s spending priorities. The plan, which also incorporates billions in spending cuts and amnesty for tax-evaders, was released more than a week into the new fiscal year. Democrats say the state can bring in $8.2 billion by raising taxes on the wealthiest Californians and corporations. The tax amnesty would generate another $1.5 billion. For the full story visit http://www.dailynews.com/breakingnews/ci_9833375

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