Californians are still sorting out what this bill means for them. Has the tax code been simplified, as Republicans contend? Who will be paying less tax?
Additionally, state lawmakers are looking for ways to address the bill’s potential consequences to California. Last week, legislators floated policy proposals to blunt its impact. Will the elimination of state tax deductions impact the state budget? If wealthy Californians are incentivized to leave California for states with lower taxes, what impact will that have? Why does California dislike this bill so much?
Producer: Wendy Holcombe
Alan Auerbach, Ph.D. - Alan is the director of the Robert D. Burch Center for Tax Policy and Public Finance at UC Berkeley, where is also a professor of economics and law.
Bob Caplan, CPA - Bob is a managing partner at Caplan and Wong CPAs, LLC, with 40 years experience preparing for individual, corporate, partnership, and fiduciary tax returns.
Senator Ben Allen - representative of the 26th district in LA County in the California State Senate.