New research shows the tech sector contributes over $20 billion annually to California's state revenue through taxes on employee income and stock grants, with revenue growing by $2.6 billion yearly.
Tax revenue from the tech industry is projected to grow by $14.3 billion annually over five years, reaching over $35 billion by 2030, equivalent to all revenue from California's statewide sales tax.
The growth in tech sector tax revenue could fund 7,341 additional teaching positions annually for California's education system, significantly boosting public services.
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