State of California Archives: on Corporations
Supported 2012 income tax increase for multistate businesses
Report on Steyer's stance and spending on ballot initiatives:
Source: Ballotpedia.org on California ballot measure voting records
Jul 2, 2019
- California Proposition 39, Income Tax Increase for Multistate Businesses (2012)
- Steyer Supported; Steyer spent $29.58 million; outcome: Approved
- Proposition 39 was
on the November 6, 2012 ballot in California as an initiated state statute, where it was approved. Proposition 39 would:
- Requires out-of-state businesses to calculate their California income tax liability based on the percentage of their sales in
- Repeals an existing law that gives out-of-state businesses an option to choose a tax liability formula that provides favorable tax treatment for businesses with property and payroll outside California.
- Dedicates $550 million
annually for five years from the initiative's anticipated increase in revenue in order to fund projects that "create energy efficiency and clean energy jobs" in California.
- Initially, this extra revenue will go to fund "green" energy projects.
Change corporate tax structure to fund education
[Six gubernatorial candidates from two parties participated in one debate]: When Eastin talked about the need to make changes in
Proposition 13's corporate tax structure to provide money for education improvements like mandatory full-day kindergarten and universal preschool, it was possible to hear the Republicans muttering, "more taxes, more taxes."
Source: San Francisco Chronicle on 2018 California governor race
May 8, 2018
Gloria La Riva:
Corporations, banks and the Pentagon dominate society
For too long, corporations, banks and the Pentagon have dominated society. The result: Half of all people live in or near poverty.
Housing cost is skyrocketing. Immigrants get scapegoated. The prison population and police repression grow. The environment is being destroyed. Enough! Vote socialist! Get involved!
Source: IVP Network on 2018 California gubernatorial race
Mar 20, 2018
Tough stance on mortgage lenders fell short
In September 2011, Harris pulled California out of nationwide mortgage settlement talks with the five biggest mortgage servicers. The deal Harris got for California was ultimately much better. It provided $18.4 billion in debt relief and $2 billion in
other financial assistance, as well as incentives for relief to center on the hardest hit counties. The banks had originally only offered California, the state hardest hit by the housing crisis and fraud, $2-4 billion.
Nonetheless, the settlement was woefully inadequate. In terms of direct financial relief, underwater homeowners--weighed down by average debt of close to
$65,000 each--received around $1,500 to $2,000 each. just 84,102 California families had any mortgage debt forgiven--far short of the 250,000 originally predicted.
Source: Jacobin Magazine on 2018 California Senate race
Aug 10, 2017
Flexibility on R&D taxes & startup businesses
Source: 2016 California House campaign website RoKhanna.com
Nov 8, 2016
- Provide an incorporation tax credit. It's misguided to tax people who are taking the risk of starting new ventures--especially when we offer subsidies to profitable, mature industries. The federal government should give businesses a
tax credit to cancel out the variable incorporation fees they accrue in their state.
- Extend research and development tax credits to start-ups. Currently, the R&D tax credit can only be taken against a firm's income tax liability-
it's rare for early stage businesses to qualify. I support a new R&D tax credit that allows startups to apply their credit to revenue or payroll taxes.
- Ease tax burdens.
The complexity of our tax code disproportionately affects small businesses. I will prioritize reducing excessive small business taxes so that small businesses can continue fueling our economy.
Close loopholes that allow companies to avoid paying taxes
Q: Do you support providing tax incentives to businesses for the purpose of job creation?
A: Yes. Today, many corporations are incentivized to move profits and facilities offshore. That has to change. We should actively encourage companies to locate
here in the U.S. and create a tax structure that rewards them for investing and creating jobs here in America. At the same time, we should close corporate tax loopholes that allow massive Fortune 500 companies to avoid paying taxes at all.
Source: Vote-Smart 2016 California Political Courage Test
Nov 8, 2016
Private business should take over public rest stops
I am committed to providing every opportunity to incentivize investment throughout California and encouraging our state to utilize innovative solutions to address community needs.
Not only is this approach an environmentally friendly transit solution, it benefits any area of California that may want to pursue private investment and provide new transportation infrastructure without bigger government or new taxes.
Source: The Allen Report newsletter on 2018 California governor race
Apr 1, 2016
Corporate rate complexity encourages investment abroad
Reforming the corporate tax code: Several Republicans and Democrats have identified corporate tax reform as a near-term priority that could help jump-start our economy. Some work is already underway in Washington.
The United States has one of the highest statutory corporate rates in the world, although the rates that businesses ultimately pay are much lower because some companies, especially large ones, are able to exploit loopholes and deductions.
This complexity encourages investment abroad while unfairly benefitting some companies over others, leading to the misallocation of capital.
An agreement that reduces statutory corporate tax rates in exchange for eliminating deductions and simplifying the code should be possible.
Source: Kashkari Washington Post OpEd: 2014 California governor race
Jun 1, 2012
Focus on supporting small family-owned businesses
Carly began her career as a receptionist at a small business and worked her way up the corporate ladder to become the first woman to lead a Fortune 20 company. Over the course of her decades of experience, she witnessed first hand the economic engines
that are small businesses.
Given these tough times, our top priorities should be economic growth and job creation. That means focusing our efforts on supporting the small businesses, family-owned businesses, innovators and entrepreneurs that
employ more than 50% of Americans and create 2/3 of our nation's new jobs.
Carly recognizes the importance of increasing access to capital so that small businesses have the resources they need to succeed,
reducing the cost of doing business so that home-grown entrepreneurs have the opportunity to thrive, and eliminating barriers to job creation to put Americans back to work.
Source: 2010 Senate campaign website, carlyforcalifornia.com
Dec 25, 2009
Page last updated: Jan 28, 2021