Faulconer unveils tax-cut plan during Downey recall campaign stop
DOWNEY (KUSI) – Gubernatorial recall candidate and former San Diego Mayor Kevin Faulconer brought his campaign to Downey Wednesday, unveiling a proposal for what said would be the largest middle-class tax cut in state history.
“The hard-working men and women who are being priced out of our state need more than a one-time rebate, they need permanent financial relief that lasts,” Faulconer said. “California’s serious problems require serious leadership, and our campaign is focused on real solutions to make our state affordable again.”
Faulconer unveiled the proposal during a visit to Porto’s Bakery, saying his plan would shrink to zero the marginal tax rate on the first $50,000 earned by individuals, and the first $100,000 earned by families, for those earning under $1 million per year.
He said someone earning less than $50,000 a year would pay no state taxes under his proposal. People earning more than $50,000 would pay state taxes only on the amount they earn above that point.
“Under my plan, 99 percent of taxpaying households will qualify for relief, many middle-class families will see their state income taxes reduced to zero, and we will make it rational to retire here,” he said. “This is not a tax cut for the Wall Street crowd, it’s a tax cut for the people who make our state work and deserve change in this election.”
Faulconer, a Republican, has been a driving force behind the effort to recall Democrat Gov. Gavin Newsom, and he is one of multiple people hoping to replace him.
Another leading Republican candidate, John Cox, campaigned Wednesday in Palm Desert in Riverside County, where he again hammered on the negative impacts of COVID-19 shutdowns on small businesses.
“Many closed permanently and millions of Californians lost their jobs,” Cox said. “We need to make beastly changes to get our economy roaring again. It starts with cutting taxes and bringing common-sense to Sacramento.”
The field of Republican challengers also includes 1976 Olympic decathlon gold medal winner Caitlyn Jenner and former Rep. Doug Ose.
Newsom has also been barnstorming the state. On Monday, he announced that the state has amassed a $75.7 billion budget surplus, and he proposed $600 stimulus checks for families earning up to $75,000, and an extra $500 for families with children. He said the payments would benefit two-thirds of the state’s families.
On Tuesday, he visited San Diego to announce a $12 billion proposal for tackling the state’s homelessness crisis, then stopped in downtown Los Angeles to unveil a $1.5 billion proposal for cleaning public spaces near highways and renovating public spaces with arts and cultural projects.
The governor, who has criticized the recall as a partisan Republican- driven political stunt, was in Monterey County on Wednesday, announcing a school-funding plan, including an expansion in transitional kindergarten.
All of Newsom’s proposals are subject to approval by the state legislature.