CA Democrats Vote to Expand Earned Income Tax Credit

FRESNO, Calif. (KMJ) — The California Legislature has approved Assembly Bill 91, which calls for more than doubling the state’s Earned Income Tax Credit program.

The measure, which supporters believe will help the working poor, will expand the program to $1 billion.

It’s part of Gov. Gavin Newsom’s latest budget, which revokes the ability of Californians to deduct business losses above $250,000 for an individual, or $500,000 for a married couple.

According to the Department of Finance, that and other changes will net more than $1 billion for California’s general fund.

Aaron Abeytia