Yes on Proposition 24: The Tax Fairness Act

Yes on Proposition 24: The Tax Fairness Act

Join this important effort to repeal special tax breaks for big corporations that don’t create or save a single job in California. A Yes vote on Proposition 24 keeps class sizes smaller, fund children’s healthcare and keep in place the safety net for the elderly and vulnerable.

With your support, we can secure $1.3 billion in funding by closing unfair corporate tax loopholes for a few big corporations.

Proposition 24, the Tax Fairness Act, ends $1.3 billion in special tax loopholes for big corporations that don’t require the creation or protection of one single job in California.

Proposition 24 ensures that a few big corporations pay their fair share of state taxes at a time when state is making drastic budget cuts to public schools, health care and public safety.

Proposition 24 doesn’t hurt California’s small businesses, it ensures tax fairness so big corporations have to play by the same rules as the rest of us.

What Proposition 24 does:

  • The initiative repeals a law that would allow businesses to shift operating losses to prior tax years and that would extend the period permitted to shift operating losses to future tax years.
  • It repeals a law that would allow corporations to share tax credits with affiliated corporations.
  • It also repeals a law that would allow multistate businesses to use a sales-based income calculation, rather than a combination property-, payroll- and sales-based income calculation.

The Tax Fairness Act