Higher corporate taxes linked to CEO pay would raise funds for California education

April 10, 2019

As pressures mount on lawmakers in Sacramento to come up with additional funds to underwrite California education, Sen. Nancy Skinner, D-Berkeley, and other lawmakers have introduced legislation that would substantially raise the income tax rates of over 2,000 of California’s largest corporations, based in large part on the size of the gap between what they pay their CEO and their workers.

It is the first concrete proposal to surface in the Legislature since the teachers’ strikes in Oakland and Los Angeles early this year highlighted the fact that California spends less per student on its public schools than most states. Multiple teacher and other organizations have called on the Legislature to somehow come up with more funds to help struggling school districts.

 

For the full report, click here.