Elijah Craig, elijahAPL@gmail.com
American Party of Labor joins advocates and others in calling for an end to wasteful corporate tax breaks and secret loopholes;
Billions in giveaways to wealthiest corporations cost the State jobs, much-needed funds, and result in widespread misery for California’s working families
Sacramento, CA – The American Party of Labor on Wednesday joined hundreds of working families, disabled rights activists, workers victimized by the latest capitalist crisis and others to call on Republican and Democratic members of the State Assembly and State Senate to eliminate harmful corporate tax breaks that cost California an estimated $41 billion annually.According to a recent report from the independent California Budget Project (CPB), a plethora of tax breaks and secret loopholes, most of which have never been put to a vote either in the legislature or on the ballot as propositions, cost California upwards of $41 billion in revenues on a yearly basis.
In turn, this dramatic loss of revenue has historically resulted in devastating State budget cuts to many critical health and human service programs, including MediCal (the State’s Medicare program), CalWORKS, In-Home Supportive Services (in-home care for disabled and elderly Californians) along with a slew of other programs utilized primarily by California’s low-income working families. In his 2010-2011 budget proposal, Governor Arnold Schwarzenegger proposed cutting $5.4 billion from these programs while retaining an additional $2 billion in corporate tax breaks previously outlined in his 2009-2010 budget. But major cuts to California’s health and human service programs couldn’t come at a worse time. With statewide unemployment figures in excess of 12% (and as high as 15% in some regions), the Governor’s proposal would cost the State hundreds of thousands of jobs – including 80,000 jobs in Los Angeles County alone, as well as more than $36 billion in total lost economic output over the next year. Members of the American Party of Labor denounced the Governor’s and Republican legislators’ plans to cut services while retaining billions of dollars of tax breaks and loopholes for some of the wealthiest corporations operating in California.
The APL joined hundreds of workers in demanding that State leaders instead pursue a policy that targets Wall-Street, and not California’s working class families:
1. Repeal the secret corporate tax giveaways of recent years.
2. Treat oil companies the same as every other government in the world and tax their extraction of oil in California.
3. End the corporate loopholes that let corporations avoid property tax reassessment when properties are sold (e.g., bank mergers, private equity buy‐outs).
4. Reinstate the tax bracket for the highest earners.
For more information about the American Party of Labor, visit our website at http://www.americanpartyoflabor.org or contact Elijah Craig by e-mail at elijahAPL@gmail.com.