Corporate tax campaign releases new advertisement

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

While most of the attention this year has focused on Gov. Jerry Brown’s and Molly Munger’s rival tax campaigns, there’s also a third ballot initiative that would increase tax revenue.

That initiative, Proposition 39, is being touted in a new statewide television advertisement released Thursday.

The advertisement said the current tax code includes a loophole that allows corporations to ‘move facilities and jobs out of state and get a tax break.�

Proposition 39 would change corporate taxes so companies with more operations based out-of-state would have to pay more.

The additional revenue, an estimated $1 billion annually, would be split between alternative-energy projects and the state’s general fund for five years. After that, it would all go to the general fund.

A recent USC Dornsife/Los Angeles Times poll said the initiative has 51% support among registered voters. Only 29% disapprove.

ALSO: Opponents prime arguments for corporate tax campaign

Procter & Gamble stands aside as corporate tax battle heats up

Assembly speaker backs Proposition 39’s corporate-tax revamp

-- Chris Megerian in Sacramento
twitter.com/chrismegerian