Unanimously endorsed by the Los Angeles County Board of Supervisors, AB 71 (Rivas/Chiu/Bloom/Wicks) or the Bring California Home Act is facing its first major committee vote in the State Capitol.
Help build crucial momentum ahead of the April 5 hearing by submitting your letter of support.
The amendments to AB 71 do not change a key component of the bill: finally ensuring that corporations pay appropriate taxes on income they make overseas, or Global Intangible Low-Tax Income (GILTI). By avoiding taxes on this income, as they do now, big corporations avoid their responsibility to invest in the communities that have been a critical part of their success. Enforcing the GILTI tax will hold them accountable.
While a corporate tax increase no longer remains part of the bill, AB 71 supporters remain committed to achieving its original $2.4 billion revenue goal by securing additional ongoing funding through the 2021-22 budgeting process.
Letters of support for the amended bill must be submitted by Monday, March 29.