California Democrats propose tax changes for businesses

By ADAM BEAM
Associated Press

SACRAMENTO, Calif. (AP) — Democrats in the California Senate say they want to raise taxes on big businesses so they can cut taxes for small businesses. The proposal would cut taxes on revenue below $1.5 million while raising taxes on revenue above $1.5 million. Democratic state Sen. Nancy Skinner says the change would partially reverse a federal corporate tax cut signed into law by former Republican President Donald Trump. The California Chamber of Commerce says the plan would send the wrong signals to companies that create jobs in the state. The proposal is still a long way from becoming law.