""California's proposed wealth tax is an unprecedented attempt to chase down people who have already left as a result of the state's poor policies," Kiley said in a statement Wednesday. "Many of our state's leading job creators are leaving preemptively.""
"Kiley said it would be "fundamentally unfair" to retroactively impose taxes on former residents."
""California already has the highest income tax of any state in the country, the highest gas tax, the highest overall tax burden," Kiley said in a House floor speech earlier t"
Rep. Kevin Kiley plans to introduce the Keep Jobs in California Act of 2026 to prohibit states from levying retroactive taxes on individuals who no longer reside there. The bill responds to reports that several prominent billionaires, including Mark Zuckerberg and Google co-founders Larry Page and Sergey Brin, are planning to leave California in anticipation of a proposed wealth tax. The measure seeks to prevent states from imposing taxes on former residents and to protect job creators from retroactive liability. The proposed wealth tax has divided Democrats, prompted rallies in support, and focused political debate in Los Angeles. Kiley cited California's high income, gas, and overall tax burdens as factors driving departures.
Read at Los Angeles Times
Unable to calculate read time
Collection
[
|
...
]