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Repeal of corporate tax breaks – Prop 24 debated




The California State Capitol Building.
The California State Capitol Building.
Jeff's Nikon/Flickr (cc by-nc-nd)

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Changes to California law in the last three years allow businesses several tax advantages: the ability to deduct losses across different tax years, the ability to share tax credits among related businesses and the option to have California income determined based on a single sales factor. Proposition 24 would repeal those laws, returning tax provisions to their pre-2008 state. Boosters of the measure say it would close tax loopholes enjoyed by wealthy, multi-state corporations but not by small businesses. Opponents say repealing those laws would send jobs out of state and cost us long-term tax revenues. Do you know how you'll vote?

Guests:

David Goldberg, United Teachers Los Angeles Treasurer and California Teachers Association Board of Directors

Ted Green, Statewide Coalition Director for No on 24, Stop the Jobs Tax campaign