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Excerpt:
Excerpt:
California students from middle-income families would
receive massive breaks on tuition and fees at the state's colleges and
universities under legislation Assembly Speaker John Pérez plans to introduce
today at the Capitol. Under the plan,
undergraduate students from families with household income of less than
$150,000 would have their tuition and fees cut by two-thirds, bringing the cost
below what it was nearly a decade ago. It
would amount to a $4,000 annual savings for California State University students
and just over $8,100 for students attending the University of California and
would take effect as soon as this fall. Both new students and current students
would be eligible…
The speaker's office estimates the program would cost the
state about $1 billion per year, which would be raised by eliminating a
corporate tax break that was approved in 2009 as part of budget negotiations
between Democrats and Republicans. That tax break allows corporations to choose
the cheaper of two formulas for calculating the taxes they owe…
Any change in the tax requires a two-thirds vote of the Legislature,
which means at least two Republicans in each house must agree…
Actually, we have some audio of what Pérez is saying to Conway:
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