John Perez promotes the Middle Class Scholarship Act in Sacramento
A Los Angeles lawmaker is putting forth a controversial idea he says will help the middle class: taxing private corporations to help students pay for their college tuition.
Assembly Speaker John Perez, D-Los Angeles, says his Middle-Class Scholarship Act would cut tuition by more than half for families with a total yearly income under $150,000 -- affecting about 200,000 students statewide. A CSU student, for example, would save about $4,000 under the bill, according to supporters.
A promotional website says the savings “will be paid for entirely by closing the $1 billion wasteful corporate tax loophole that allows out-of-state corporations to elect to lower their California tax bill.”