California To Business Owners: Half Of Your Savings From Trump's Tax Bill Belongs To Us | WHAT REALLY HAPPENED


California To Business Owners: Half Of Your Savings From Trump's Tax Bill Belongs To Us

California lawmakers are targeting the expected windfall that companies in the state would see under the federal tax overhaul with a bill that would require businesses to turn over half to the state.

A proposed Assembly Constitutional Amendment by Assemblymen Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, would create a tax surcharge on California companies making more than $1 million so that half of their federal tax cut would instead go to programs that benefit low-income and middle-class families.

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