One year ago, Congress defunded public media. Now that we're 100% community funded, please become a sustaining member or increase your existing membership today.
California Lawmakers Eye Corporate Tax To Help Fight Homelessness
A homeless encampment on First Street in downtown L.A. (Chava Sanchez/LAist)
A new bill would fight homelessness in California by raising the state's corporate tax rate on the most profitable businesses.
The supporters of the "Bring California Home Act" say that would raise $2.4 billion annually.
Los Angeles State Assemblywoman Luz Rivas (D-Arleta) is lead author of the bill:
"An ongoing funding source gives local governments desperately needed structure and confidence to implement response plans and programs that combat homelessness."
- Create affordable housing and rental assistance for 28,000 people a year
- Expand emergency shelters for 25,000 people and families
- Provide permanent housing for 43,000 people
- Provide additional services such as employment support to 50,000 people
The tax increase would apply to corporations with annual profits of more than $5 million.
READ THE BILL:
Our news is free on LAist. To make sure you get our coverage: Sign up for our daily newsletters. To support our non-profit public service journalism: Donate Now.
One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Senior Vice President News, Editor in Chief
