Eliminating a Corporate Tax Break Is Pitched as a Way to Make up for Federal Health Care Cuts in California

Eliminating a corporate tax break is pitched as a way to make up for federal health care cuts in California

SACRAMENTO, Calif. — A corporate tax policy that costs California billions in lost tax revenue each year could be coming to an end as the state struggles to backfill federal cuts and resolve a looming budget deficit.

Los Angeles Times: Eliminating a Corporate Tax Break Is Pitched as a Way To Make Up for Federal Healthcare Cuts

Carl Davis, a research director at the Institute on Taxation and Economic Policy, stated that there is growing support nationwide to repeal the water’s edge tax break as public awareness of profit shifting spreads. “Folks are outraged when they hear that these companies are pretending that they are earning their profits in the Caymans or in Switzerland and are skipping out on paying U.S. taxes as a result,” he said. “That feels insulting to a lo…

Eliminating a corporate tax break is pitched as a way to make up for federal healthcare cuts

A corporate tax policy that costs California billions in lost revenue each year could be eliminated as the state struggles to resolve a budget deficit.