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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?


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