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HomePoliticsCalifornians Reject Proposition 30, Election Result 2022 California - AP Projects

Californians Reject Proposition 30, Election Result 2022 California – AP Projects

Californians Reject Proposition 30, Election Result 2022 California – AP Projects

Topic is – Californians Reject Proposition 30, Election Result 2022 California –┬áProposition 30 proposed a new tax on residents who earn an additional 1.75% over $2 million to generate funding for programs used to help fight climate change and prevent wildfires.

“Proposition 30 taxes rich people who make more than $2 million,” said Dr. Fernando Guerra, a professor of political science at Loyola Marymount University. “It raises the tax rate to 15%. It is already over 13%, which is the highest in the country. The money comes from the rich and goes to those who buy electric cars and charging stations. Huh.

The state legislative analyst predicted that the measure would increase tax revenue by $3.5 to $5 billion annually.

The vast majority, about 80% of the revenue generated, will go to zero-emissions vehicle purchase incentives and the construction and operation of charging and fueling stations.

The other 20% will be used to hire, train and retain state firefighters in addition to wildfire response and prevention programs.

Despite its well-intentioned nature, critics have raised concerns about who is backing Proposition 30.

“Proposition 30 was put on the ballot primarily by Lyft,” said Loyola Law School professor Jessica Levinson. “Lyft, the rideshare company, is hoping this will help them move toward electric cars. They’ve already invested about $15 million to support this ballot measure.”

Guerra said Lyft would likely get many subsidies to convert its business model to electric cars.

“Lyft’s business model is to move toward electric cars, and [Prop 30] will, in a sense, indirectly finance the new business model,” he said.

Prop 30 has drawn criticism from both sides of the aisle, including the Republican Party and Governor Gavin Newsom.

“They say this measure is an unnecessary tax hike at a time when everyone is already feeling the crisis of inflation and rising gas prices,” said Dr. Sara Sadhwani, professor of politics at Pomona College. “Some are concerned that this is another step by Lyft to avoid the responsibility of switching their cars to electric vehicles and that it is a proposal as a clean energy, environmentally friendly proposition.”

You can also read – In the News | Lou Antonelli Beyond Finance 2022



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