LOS ANGELES – Senate Democrats will introduce legislation in January to mitigate the damage to California taxpayers from the Republican tax scam. The Senate is eager to work with the Assembly, Department of Finance and Governor to shield California families from bearing the cost of a trillion-dollar tax shift from corporations and the very wealthy to middle class working families and California taxpayers.
“The Republican tax scam disproportionately harms California taxpayers,” Senate leader Kevin de León said. “Our hard-earned tax dollars should not be subject to double-taxation, especially not to line the pockets of the Trump family, hedge fund managers and private jet owners.”
The Senate is coordinating with noted legal scholars Kirk Stark (UCLA), Darien Shanske (UC Davis) and Daniel Hemel (University of Chicago) to design statutory changes to alleviate the negative impact capping the SALT deduction will have on California taxpayers. Specifically, the average deduction utilized by a California taxpayer is $22,000. Under the GOP tax scam the deduction will be capped at $10,000, resulting in double taxation on any amount above the cap.