Courthouse News Service | Maria Dinzeo | March 24, 2021
California lawmakers are reviving an effort to raise taxes on its highest earners, introducing a new bill that will impose tiered tax increases on residents who make annual incomes of over $1 million.
“There is a desperate need to attack the issue of income inequality by making sure those who are rich pay their fair share,” Assemblymember Miguel Santiago said at a press conference Wednesday unveiling Assembly Bill 1253.
The new effort is backed by the California Teachers Association, as well as progressive advocacy groups like Courage California, Patriotic Millionaires, and Aspiration — a “socially conscious financial company.”