NewsKern's Homeless Crisis


Group looks to boost corporate taxes to help fight homelessness

Homeless (FILE)
Posted at 11:35 AM, Jan 14, 2021
and last updated 2021-01-14 14:35:11-05

(KERO) — A California coalition is proposing legislation that would boost taxes on corporations to help aid the homeless crisis.

The bill would raise the corporate income tax from 8.84 percent to 9.6 percent on corporations that make more than $5 million in annual profits.

Supporters say the measure would reinvent the state's approach to solving homelessness and create an ongoing funding source to get people off the streets. Those opposed say it would add to the state's reputation of being hostile to businesses.