SACRAMENTO – In case you missed it, Assembly Speaker John A. Pérez (D-Los Angeles) and Assemblymember Nathan Fletcher (I-San Diego) were featured in a KUSI San Diego piece on the Middle Class Scholarship Act. Assemblymember Fletcher announced his support for the bill while meeting with the Speaker, college students and business leaders at the Qualcomm headquarters in San Diego on Friday.
Speaker Perez’s Middle Class Scholarship is a two-bill package that will eliminate the Elective Single Sales Factor loophole in California law, which allows out-of-state corporations to pay less in taxes than businesses based in California. The money saved by closing this loophole, approximately one billion dollars annually, will be used to fund the Middle Class Scholarship, which will cut student fees by two-thirds for UC and CSU students whose families earn less than $150,000 per year and includes $150 million to increase affordability at the state’s community colleges. The bills that make up the Middle Class Scholarship Act are AB 1500 and AB 1501.
For more information on the proposal, go to www.MiddleClassScholarship.com.