2023 Job Killers
The California Chamber of Commerce has named the following as job killer bills for 2023.
SBX1 2 (Skinner; D-Oakland). Windfall Profits Tax. Sets an arbitrary cap on the amount of profits that a refiner operating in the state of California can earn over a quarterly basis. This measure would further diminish supply, discourages operational efficiencies, and would limit the amount of capital a refiner could reinvest into their infrastructure to support California’s long-term climate goals.
AB 259 (Lee; D-San Jose) / ACA 3 (Lee; D-San Jose) Wealth Tax. Seeks to impose a massive tax increase upon all forms of personal property or wealth, whether tangible or intangible, despite California already having the highest income tax in the country. This tax increase will drive high-income earners out of the State as well as the revenue they contribute to the General Fund.
SB 12 (Stern; D-Canoga Park) Arbitrary Greenhouse Gas Target. Arbitrarily changes the State’s GHG reduction goal from 40% of 1990 levels by 2030 to 55%. By the State’s own estimate this proposal will force 17 million gas-powered cars off the road in the next 10 years.