When it comes to the state budget, it's painfully clear that we need both short-term revenue now and long-term reforms to make our tax system more progressive and stable.
In 2012, we were able to avoid deep cuts to essential services and finally closed an unjustified tax loophole for Wall Street Banks. Fuse members' emails, calls, and lobby visits were critical to making this reform possible.
In 2013, we fought to close the estate tax loophole opened by a recent Supreme Court decision. Without action, our K-12 schools would have lost more than $160 million in essential funding. Fuse members sent more than 4,000 emails in the final 48 hours before the vote to close this loophole.
With these victories under our belt, we're now focused on closing the Big Oil tax loophole. Companies like BP and Tesoro have been taking advantage of an outdated and unintended tax loophole that costs our schools $59 million. We need to close this tax loophole for some of the wealthiest corporations in the world and prioritize our kids' classrooms.
Despite this progress, we still have our work cut out for us to close loopholes and prevent budget cuts. We've joined community organizations and progressive activists statewide in one coordinated, overwhelming message: end unjustified tax loopholes and raise revenue to protect our future.