OFFICE OF COUNCIL MEMBER LOREN TAYLOR
PRESS RELEASE:
May 26, 2022
COUNCIL MEMBER LOREN TAYLOR’S PUSH FOR FAIR AND PROGRESSIVE BUSINESS TAX PROPOSAL PROVES SUCCESSFUL TWO YEARS LATER
Oakland, California – After robust dialogue and debate with Oakland businesses, residents, unions and community organizations, this afternoon the Council voted unanimously to place a more progressive and fair tax measure on the ballot. of November of the city. With the broad support of key business stakeholders, this win-win proposition would not exist without the leadership of Board Member Loren Taylor two years ago.
When the first version of a progressive business tax was introduced in May 2020, the business community and members of the public had just 4 weeks to review it before the council decided whether it should go to a ballot of November 2020. There was confusion, frustration and uncertainty among most of those who had not been involved behind the scenes in the drafting of the original proposal. Recognizing that such a significant shift in Oakland’s financial system needed to be better understood, analyzed, and co-developed with all stakeholders, Council Member Taylor won support for his proposal to establish a tax reform process. more inclusive which would bring this point back to Council Two. years later.
Councilman Taylor also called for the creation of a Blue-Ribbon tax commission with diverse representation from all of Oakland. It was through the 11-member task force that the business community and residents of the city had the opportunity to share their thoughts on how our tax system should be restructured, as well as voice their concerns. and desired results. By taking the extra time to engage a broader set of stakeholders, the proposed measure has a much higher likelihood of being passed when placed on the ballot in November. Compared to the original 2020 proposal, the newly passed ballot measure provides tax relief to more than 20,000 small businesses, better supports future growth of the city’s economic base by closing loopholes for large businesses, and is expected to further generate more than $20 million in additional tax revenue to increase our ability to provide vital city services like keeping our streets clean, fixing potholes, responding to emergencies and solving our homelessness crisis.
“Deliberate and genuine engagement with all stakeholder groups is key to developing win-win solutions that move us forward. Today’s Council vote is no doubt a testament to the hard work and collaboration of our business community, residents and City leaders, all of whom are committed to creating a fairer tax structure in Oakland. . said council member Loren Taylor “I hope this approach both and will become a core practice of our council, and I am confident that Oakland voters will respond favorably to our collective efforts.”
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