Progressive business tax plans gain steam in Oakland, but business group calls idea


Two Oakland council members unveiled their plans for a progressive business tax structure Thursday to place on the November ballot — saying that the current tax structure is outdated and their proposal will generate nearly $40 million in new revenue for city coffers.

The proposal by Council President Nikki Fortunato Bas and Council Member Carroll Fife would give a tax cut to or keep taxes the same for small and medium-sized businesses — including about 97% of businesses in the city — and increase taxes for large companies. The proposal will eventually go to the full city council, which will vote on whether to place it on the November ballot.

But the business advocacy group Bay Area Council has cautioned the city against any changes to the tax structure, saying that a proposed progressive tax structure will be “ruinous” for job growth and the city economy. The Bay Area Council said they analyzed a city task force’s recommendation that was less progressive than Bas and Fife’s plan, but expressed concern about the council members’ proposal too.

Oakland has nearly 60,000 small businesses and just over 50 large companies.





Read More: Progressive business tax plans gain steam in Oakland, but business group calls idea

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