California voters are poised to consider a November ballot measure proposing a one-time 5% tax on residents with a net worth exceeding $1 billion. Proponents assert the levy, projected to generate $100 billion over five years, would fund state healthcare, education, and food support programs. The measure seeks to mitigate anticipated funding shortfalls attributed to recent federal legislative changes.
California Assemblymember Alex Lee has introduced a bill to eliminate state tax breaks for companies that contract with federal immigration enforcement agencies, which has passed its first policy committee and is now headed to the Assembly Appropriations Committee.
Eric Jones is a progressive politician running on a platform of ending monopoly abuses, expanding Medicare, providing universal childcare, and increasing taxes on the wealthy to pay for investments.
Opportunity Zones have the potential to increase housing production, but only if state housing agencies are given a central role in the designation process and the program is implemented strategically.