Opinion: Business tax breaks must have fairness
By David A. Sanchez
California voters have an opportunity in this election to send a clear message about the future of our state. Passing Proposition 24, the Tax Fairness Act, will help prevent more than a half-billion dollars from being cut from our public schools and colleges and will help ensure that everyone in the state is paying their fair share.
Prop. 24 does not raise taxes. It keeps taxes for large corporations in California at their current level. If Prop. 24 does not pass, about 2 percent of California’s largest corporations will get a $1.3 billion tax cut without any requirement to create jobs in California.
It is unconscionable, in these tough economic times, that a handful of large corporations, which are reaping record profits and handing out bonuses to their executives, would eagerly seek new sweetheart tax breaks.
It’s equally important to understand how Prop. 24 came about. During the state’s budget crisis of 2009, backroom deals were cut that became part of the final budget agreement, providing billions in permanent tax breaks to large corporations.
David A. Sanchez is president of the California Teachers Association.
