Tax to Combat Poverty Proposed

FRESNO, Calif. (KMJ) — The Lifting Children and Families Out of Poverty Act would impose a surcharge of up to 1% on California real estate valued at more than $3 million.

Proponents believe it would generate around $7.7 billion,most of which would come from commercial properties.

That money would then be used to expand preschool services and job training programs, in addition to creating a more expansive earned income tax credit.

If enough signatures are gathered, the Lifting Children and Families Out of Poverty Act would be placed on the 2016 ballot.