Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Taxes EV

CA voters reject EV bill (Photo by Marcus Brandt/picture alliance via Getty Images)

By Tyler Hummel Leaders Staff

Tyler Hummel

Tyler Hummel

Tyler Hummel is a news writer for Leaders Media. He was the Fall 2021 College Fix Fellow and Health Care...

Full bio


Learn about our editorial policy

Nov 11, 2022

Bipartisan Backlash Against EV Bill 

California voters in both parties voted against a Lyft-backed tax hike to subsidize electric cars (EVs).  

Key Details

  • California voters decisively voted 59.2% against an income-tax hike on high-income earners. 
  • Proposition 30 would’ve added an additional 1.75% to income taxes about $2 million through the year 2043 to help subsidize EV purchases and supportive infrastructure. 
  • Lyft was a major supporter of the bill—spending $48 million to promote it. It would’ve helped the company more smoothly transition to EVs by lowering the price of new cars. The law also received backing from environmental groups and electric vehicle advocates.  
  • Governor Gavin Newsom, Netflix CEO Reed Hastings, Sequoia Capital partner Michael Moritz, and venture capitalists Michael Moritz and Ron Conway were among its critics who dismissed Lyft’s support as a “grift” and putting “the profits of a single corporation ahead of the entire state.”
  • Support and criticism were bipartisan, with conservative anti-tax groups like Howard Jarvis Taxpayers Association aligning with Democratic Governor Newsom.

Why it’s Important 

The law’s failure marks a major setback for rideshare companies and EV manufacturers who have less than eight years to meet the state’s mandate of using electric vehicles for 90% of miles by 2030, in support of California’s climate change initiatives. 

“The defeat of Prop 30 is a big win for the governor, who seems to be tacking to the political middle as he seeks to raise his national profile, a loss for EV companies like Tesla, and a black eye for Lyft, which will have to find another way to help drivers buy EVs,” says Barron’s.  

“It’s also good news for high-income Californians—residents who make $5 million a year would have paid an extra $52,500 a year in taxes had Prop 30 passed. At the level of $50 million a year, the extra tax would be $840,000,” Barron’s continues. 

Lyft called the defeat a setback for the climate movement. “Climate change remains a generational issue that increasingly impacts every aspect of our lives … we remain committed to achieving our collective climate goals.” 

Home / News / Bipartisan Backlash Against EV Bill 
Share
FacebookTweetEmailLinkedIn

Related Stories

Tech Leaders Warn Of A.I. Dangers

by Savannah Young Leaders Staff
Leadership

17 minutes ago

2020 presidential election candidate Andrew Yang is among 1,000 top tech leaders signing a letter urging companies to pause AI development

More than 1,000 technology leaders and researchers have signed an open letter urging companies to pause artificial intelligence (AI) development stating that the systems are  “profound risks to society and humanity.”

Key Details

  • More than 1,000 tech leaders, including Elon Musk, Apple co-founder Steve Wozniak, 2020 presidential election candidate Andrew Yang, Atomic Scientists president Rachel Bronson, and others, have signed a letter urging AI systems to be paused.
  • Since the debut of AI chatbot ChatGPT in November, the tech has attracted 100 million subscribers and led other companies to deploy artificial technology to capitalize on the trend quickly.
  • Now tech leaders are warning that the systems must be paused because they are too advanced and the tools present “profound risks to society and humanity.”

Go deeper

FacebookTweetEmailLinkedIn

The Shift In America’s Core Values

by Savannah Young Leaders Staff
Business

19 minutes ago

A new study shows that priorities that once defined most Americans for generations are falling behind.

Key Details

  • Around 38% of poll respondents say patriotism is very important, and 39% say religion is very important, according to a study by The Wall Street Journal and research organization NORC.
  • When the study was first conducted in 1998, 70% of respondents deemed patriotism to be very important, and 62% said so of religion.
  • Tolerance for others was very important to 80% of American respondents four years ago but has fallen to 58% in the last recording.
  • Having children, involvement in their community, and hard work are also answer choices that have significantly decreased in importance to the American public over the last few years.
  • The only aspect that has grown in importance is money which is cited as very important by 43% in the new survey, up from 31% in 1998.

Go deeper

FacebookTweetEmailLinkedIn

The Next Big Thing—Influencer Management

by Savannah Young Leaders Staff
Social Media

23 minutes ago

TikTok influencer Yusuf Panseri performs a video for the social network TikTok

Social media influencing has quickly become one of the most sought-after jobs, but some people have found being an influencer assistant is the best way to become profitable and have a steady income in the industry.

Key Details

  • In a 2022 survey of 1,000 18 to 25-year-olds, 27% say they planned to be an influencer, and nearly 15% said it was their only career choice, according to HigherVisibility.
  • A micro-influencer, someone with 10,000 to 50,000 followers, can earn anywhere between $40,000 and $100,000 per year, while an influencer with 1 million followers can make thousands per social media post.
  • An influencer marketing manager or assistant in the U.S. typically makes anywhere from $92,904 to $136,058, for an average of $111,473 annually, according to Salary.com.

Go deeper

FacebookTweetEmailLinkedIn
shell production
Business

35 minutes ago

Shell Wavers On Oil Output Reduction

by Hannah Bryan Leaders Staff
Russia economy
Business

About an hour ago

One Year Out: War’s Effect On Russia’s Economy

by Hannah Bryan Leaders Staff
VR
Tech

About an hour ago

Disney Uninstalls the Metaverse 

by Tyler Hummel Leaders Staff

Recent Articles

Leadership

6 hours ago

The Most Productive People Follow Daily Routines, Here’s Why

By following a structured daily routine, you give your mind a break from making constant decisions, saving mental energy and willpower

Productivity

Mar 27, 2023

84% of Workers Are Easily Distracted—Here Are 10 Tricks to Stay Focused

Learn to improve mental performance when you can’t stay focused.

Leadership

Mar 22, 2023

Creating Loyal Employees Is About More Than Just the Paycheck

If you think simply paying your employees more will gain their loyalty, think again.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com