California’s latest effort to raise taxes on the wealthy could fuel exodus to Texas

In the same week that Elon Musk became the poster boy for the San Francisco Bay Area exodus by moving to Texas, California lawmakers are considering an increase in the income tax on its wealthiest residents to raise at least $2.4 billion annually to help pay for services to the homeless. The proposed law would establish the Bring California Home Fund and create a comprehensive, statewide program to address problems tied to homelessness. The legislation, Assembly Bill No. 71, was introduced Dec.…