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May 18, 2016

L.A. County Seeks ‘Millionaires Tax’ to Tackle Homelessness

The Los Angeles County Board of Supervisors voted Tuesday to push for state legislation authorizing the county to levy a new tax on $1 million-plus incomes to fund housing and programs for the homeless, the Los Angeles Times writes.

Such a tax would raise an estimated $243 million a year and won wide support in polling commissioned by the county. If permitted by the state, the “millionaires tax” would still have to go to referendum and win a two-thirds majority to take effect.

Supervisors also approved a plan Tuesday to study the nearly $1 billion the county spends annually on services for homeless single adults that are not directly related to reducing their numbers, such as emergency medical care and cash assistance, to determine how to more effectively address chronic homelessness. Los Angeles city officials last year declared a state of emergency over rising homelessness and in recent months committed to spend $2 billion over the next decade on affordable housing.