Audits of the wealthy and corporations have steeply declined at the same time the agency has begun withholding tax refunds for low-income recipients of the Earned Income Tax Credit.
Decades of ballot-box budgeting and artificial constraints on lawmakers’ authority have created a kind of vice grip around Sacramento. With Prop. 6 the voters decided not to tighten the screws.
Co-published by The American Prospect
Beyond jeopardizing road repairs and mass transit, Prop. 6 would strike at the very nature of governance itself in the Golden State.
On this year’s campaign trail, Hillary Clinton and Donald Trump talked about rebuilding the nation’s infrastructure of airports, bridges, dams and highways to boost blue-collar job growth.
Across the country, chronic underinvestment has left roads, bridges, water systems and other critical infrastructure in need of replacement or costly repair. Public financing is the least expensive way to meet these needs. But to fund the gap, some states and cities are turning to contracting arrangements called “public-private partnerships,” or “P3s” for short, which use private capital to finance public projects.
If done right, infrastructure projects—however they’re financed—can tackle inequality by boosting economic growth and providing quality jobs for disadvantaged communities. But since capital in P3s is more expensive than in public financing, and the public loses control over many aspects of P3-financed infrastructure, we should demand even more public benefit in return.
Thursday, along with the Partnership for Working Families (PWF), we released a report to help make sure P3s provide much-needed pathways to the middle class. The report, Building America While Building Our Middle Class,