California Dems Want to End Benefits Business Have Seen Under GOP Tax Bill California Dems Want to End Benefits Business Have Seen Under GOP Tax Bill – NTK Network

California Dems Want to End Benefits Business Have Seen Under GOP Tax Bill

More than a million Americans have received more than a billion dollars because of the GOP tax reform bill.

By NTK Staff | 01.22.2018 @4:00pm
California Dems Want to End Benefits Business Have Seen Under GOP Tax Bill

California Democrats are proposing a constitutional amendment that would require businesses to turn over half of their expected increased revenue they will see as a result of GOP tax bill.

The constitutional amendment was proposed by Democratic Assemblymen Kevin McCarty and Phil Ting, who falsely claim that the GOP tax bill does not benefit middle-class Americans.

“It is unconscionable to force working families to pay the price for tax breaks and loopholes benefiting corporations and wealthy individuals,” Ting said in a statement. “This bill will help blunt the impact of the federal tax plan on everyday Californians by protecting funding for education, affordable health care, and other core priorities.”

The San Fransico Chronicle reported on the proposed constitutional amendment, which “would create a tax surcharge on California companies making more than $1 million so that half of their federal tax cut would instead go to programs that benefit low-income and middle-class families.”

Since the GOP tax bill passed, over 100 companies have credited the bill as the reason why they can give employees bonuses and wage increases.

More than a million Americans have received more than a billion dollars between the bonuses and pay raises that have resulted from the GOP tax bill.

In California, a constitutional amendment requires two-thirds of the legislature to pass. If Democrats are successful, and Gov. Jerry Brown (D-CA) signs the constitutional amendment, voter would vote on the amendment for final approval.

However, gaining the required support from two-thirds of the California legislature might prove difficult, as Democrats lost their supermajority in the legislature “following resignations of two Assembly Democrats,” because of allegations of sexual misconduct.

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