By Rebecca Band
California Labor Federation
One BILLION Dollars. That’s how much California gives away every year to big corporations, thanks to a wasteful tax loophole that actually incentivizes companies to close up shop in California and move those jobs elsewhere.
According to LA Times columnist George Skelton:
You might think a tax law that rewards companies for killing California jobs and resurrecting them in another state would be dumped. Very quickly. Especially if it also rewards them for selling off property here and rebuilding elsewhere. Or, put another way, if the law provides a tax incentive not to hire or invest in California in the first place. You’d repeal it. A no-brainer.