Assemblymember Cory Jackson is back at it again attempting to tax candy in an effort to generate revenue to tackle youth poverty.
Via Assemblymember Dr. Cory Jackson:
2024 End Youth Poverty Bill Package
Assemblymember Dr. Corey Jackson is taking bold steps to address the pressing issue of child poverty in California. Recent data from the Public Policy Institute of California (PPIC) highlights a significant increase in youth poverty, particularly among Latino communities.
To combat this crisis, Assemblymember Dr. Corey Jackson has introduced two bills aimed at expanding and strengthening the California Youth Childhood Tax Credit (YCTC). These proposals, ACA 21 and AB 2977, focus on generating revenue and strategically reallocating resources to ensure children receive the support they need to thrive.
ACA 21 seeks to authorize taxing candy to raise revenue to end youth poverty and expand the qualifying age for the young child tax credit to 18 years old. AB 2977 proposes strategic revisions to current tax credits.
Child poverty is not just a statistic; it’s a moral and economic imperative. By prioritizing the eradication of youth poverty, California can ensure that all children have the opportunity to succeed. Join us in supporting the 2024 End Youth Poverty Bill Package and building a brighter future for California’s youth.
More on the Bills:
ACA-21: This bill would authorize the state to levy or collect a sales or use tax on the sale of, or the storage, use, or other consumption in this state of, candy and would define “candy” to mean a preparation of sugar, honey, or other natural or artificial sweeteners in combination with chocolate, fruits, nuts, or other ingredients or flavorings in the form of bars, drops, or pieces. The bill would also raise the maximum age of a qualifying child for purposes of the young child tax credit to 18 years of age and would require that any revenues collected pursuant to a sales or use tax levied on the sale of, or on the storage, use, or other consumption in this state of, candy in the state be used only to mitigate the impact on the General Fund of that age increase.
Meanwhile, under AB 2977, it proposes revisions to the current tax credits. The bill would also require the Franchise Tax Board, for taxable years beginning on or after January 1, 2024, to recalculate the phaseout provisions for the young child tax credit such that the credit reaches $0 as earned income reaches $50,000. The bill would require the Franchise Tax Board to first utilize the moneys in the Child Tax Credit Expansion Fund for the purpose of the above-described expansion of the young child tax. This bill would, for taxable years beginning on or after January 1, 2024, adjust the phaseout of the earned income tax credit so that the credit reaches $0 when the taxpayer’s income reaches $20,000, as adjusted. The bill would direct that any increase in revenue or savings from this change be deposited into the Child Tax Credit Expansion Fund. This bill would eliminate the rule that allows the basis of property to automatically become the fair market value of the property as of the date of a decedent’s death. The bill would direct that any increase in revenue generated due to this change be deposited into the Child Tax Credit Expansion Fund. This bill would, for corporations incorporated or qualifying to do business in the state on or after January 1, 2025, eliminate the exception to the minimum franchise tax for the first taxable year of the corporation. The bill would direct that any increase in revenue generated due to this change be deposited into the Child Tax Credit Expansion Fund.
Editors Note:
Last year, Jackson introduced Assembly Bill 657 which proposed a $0.05 tax on the distribution of candy. Under AB 657, which is labeled the Mental Health Services Funding Act, it aims to generate funding to improve California’s mental health care system. The Act proposes a tax on the distribution of candy, with the revenues collected allocated to the Mental Health Services Fund. The “candy tax” bill ultimately died in committee.
4 comments
As usual with a Corey Jackson press release, hip boots should be worn before wading in.
“Child poverty in California” isn’t really a thing. Shitty, State funded, lazy ass parenting is the issue. So these people are broke, but have money for candy? Makes perfect sense.
Plenty of money for CoCo Farms though, no doubt.
Well said folks