TITLE: California Legislature Moving to Double Corporate Tax Rate
SENTENCE 1: The White House has been trumpeting that the corporate tax cut from 35 percent to 21 percent, has already resulted in 2 million workers getting “Trump Bonus” or “Trump Pay Raise;” the National Association of Manufacturers found their member’s optimism levels at “the highest [point] in the survey’s 20-year history;” and the Council of Economic Advisers estimates the economy will grow by “an additional 3 percent.”  But Assemblymen McCarty spoke for all of California Democrat social justice warriors when he told the Sacramento Bee, “We’ve seen enough billionaire justice from the presidency.” He added, “It’s time for middle-class tax justice.”  As a recent Vanity Fair article proclaimed, “Republican Tax Plan Is An Elaborate Middle Finger To Liberals.” According to comments by Heritage Foundation economist Stephen Moore, the tax reform limitation on state and local tax deductions (SALT) will result in a direct negative economic hit to liberal blue states, especially California.
SENTENCE 2: Although the Tax Foundation listed Iowa with the highest corporate tax rate at 12 percent and California only the 7th ranked at 8.84 percent, many companies use deductions to cut California’s effective tax rate to the alternative tax minimum of 6.65 percent.
SENTENCE 3: Ting and McCarty predict that it may increase corporate taxes by up to $17 billion and the money could be spent on expanding the earned income tax credit, college affordability, child care, and education.

Bias label: moderately
Annotator rationales: