“Fair, phased-in and long-overdue reform” that will “fund essential services such as public schools and public safety”
“Residential property owners and small businesses are protected”
California Governor Gavin Newsom endorsed Prop. 15, describing it as a “fair, phased-in and long-overdue reform” that will “fund essential services such as public schools and public safety.” This is a critical endorsement for the Yes on 15 campaign with 53 days until Election Day.
“Governor Newsom’s endorsement of Prop. 15 represents another watershed moment in the push to close corporate tax loopholes so Californians can reclaim billions for schools and essential local services. This is a critical boost of momentum for the campaign as we head into the final stretch.” – Alex Stack, Yes on 15 Communications Director
Prop. 15 is a November ballot measure that will close corporate property tax loopholes to reclaim nearly $12 billion every year for essential workers, local services, and schools – all while protecting homeowners and renters, small businesses, and agriculture. Moreover, the measure implements a new tax cut for small businesses. According to an analysis of Prop. 15, only the top 10% of commercial and industrial properties would generate 92% of the revenue.