HomeInvestmentA Lyft for California’s Tax Rates

A Lyft for California’s Tax Rates

Progressives in California have taken ride-share companies hostage to their climate agenda. Now Lyft is trying to escape by sticking up high-income taxpayers. Witness the November ballot initiative the company is bank-rolling to soak the affluent to subsidize electric vehicles that the state has mandated for its drivers.

The deceptively titled Clean Cars and Clean Air Act last week qualified for the general election ballot after getting an $8 million charge from San Francisco-based Lyft. The initiative would raise the top income-tax rate on earners making more than $2 million by 1.75 percentage points to 15.05%, giving California the highest rate in the country after New York City (14.8%) displaced it last year. Quite the honor.

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