Statement on AB 71 to Raise Taxes on Struggling Businesses
The Bay Area Council today (Jan. 13) issued the following statement in response to the introduction of AB 71, proposed legislation to raise taxes on California businesses.
“Further clouding California’s already stormy business climate by imposing more taxes on thousands of businesses big and small is the last thing we should be doing in the middle of an economic crisis,” said Jim Wunderman, President and CEO of the Bay Area Council. “Ending homelessness is one of our top priorities, but all the spending in the world won’t make a difference if we don’t first fix the deep structural problems that have long plagued our response, including building more housing. That’s where our focus should be, not further burdening our economy as we struggle to reopen, restore millions of lost jobs and staunch the exodus of businesses, investors and talent leaving California for other states.”