{"id":57096,"date":"2018-01-20T06:50:53","date_gmt":"2018-01-20T06:50:53","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=57096"},"modified":"2018-01-20T06:50:53","modified_gmt":"2018-01-20T06:50:53","slug":"california-dems-propose-surcharge-on-businesses-to-fund-social-programs","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/politics\/california-dems-propose-surcharge-on-businesses-to-fund-social-programs.html","title":{"rendered":"California Dems propose surcharge on businesses to fund social programs"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">California Dems propose surcharge on businesses to fund social programs<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Lawmakers from California have proposed a bill that would compel companies making more than $1 million to turn over half their tax-cut savings to the state in order to fund programs that support low-income and middle-class families.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Assembly members Kevin McCarthy, D-Sacramento, and Phil Ting, D-San Francisco, have proposed an Assembly Constitutional Amendment that would enact a tax surcharge on California companies, in order to help people who have been negatively affected by the GOP\u2019s tax overhaul, the San Francisco Chronicle reported.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Critics of the tax overhaul have argued that a tax-heavy state like California will be hurt by declining revenues that pay for social programs, the Chronicle reported. The tax surcharge is a way of compensating for an anticipated loss in state revenue.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">\u201cTrump\u2019s tax reform plan was nothing more than a middle-class tax increase,\u201d Ting said in a statement. \u201cIt is unconscionable to force working families to pay the price for tax breaks and loopholes benefiting corporations and wealthy individuals. 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.\u201d<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">In order to pass, the bill needs approval from two-thirds of the California Legislature \u2013 from which the Democrats have recently lost their supermajority, the Chronicle reported. From there, the bill would be signed by Gov. Jerry Brown before going to the voters for final approval.<\/span><\/p>\n<p><span style=\"font-size: 8pt\">Source:-\u00a0http:\/\/www.foxnews.com\/us\/2018\/01\/20\/california-dems-propose-surcharge-on-businesses-to-fund-social-programs.html<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/politics\/california-dems-propose-surcharge-on-businesses-to-fund-social-programs.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>California Dems propose surcharge on businesses to fund social programs Lawmakers from California have proposed a bill that would compel companies making more than $1 million to turn over half their tax-cut savings to the state in order to fund programs that support low-income and middle-class families. Assembly members Kevin [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":57104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[115770],"class_list":["post-57096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-california-dems-propose-surcharge-on-businesses-to-fund-social-programs"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/57096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=57096"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/57096\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/57104"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=57096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=57096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=57096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}