Have you been keeping up with California’s recent news regarding taxes? From cannabis to tap water and gas, California’s various tax legislation would impact all residents. Here’s a recap of each one.
California’s Taxes on Gas
Senate Bill 1 increased gas taxes by 12 cents per gallon, diesel fuel 20 cents per gallon and raised vehicle fees. The legislation was approved by both the Legislature and the governor back in April and is projected to raise $5.4 billion a year for road and transit projects. While the tax revenue is earmarked for important work within the state, 51 percent of registered voters report they’d repeal the tax if it were placed on the statewide ballot in November.
California’s Taxes on Water
That’s right – there is proposed legislation to tax water. As the first taxes on tap water in California’s history, the revenue, “Would go toward addressing drinking water tainted with arsenic and other contaminants in the San Joaquin Valley.” Both residents and businesses would be responsible for the tax, with an increase of either 95 cents or $15 per month on their water bills, depending on which legislation passes.
While opponents to the bill agree the clean water concerns need to be addressed, they believe the legislation would, “Make it harder for low-income residents to afford this necessity. A precedent-setting tax also could lead to additional taxes on water for a variety of project and programs.”
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