Business

Councilmember Taylor Submits Cannabis Tax Relief Focused on Equity and Small Businesses

Published

6 years ago

October 10, 2019

Oakland City Councilmember Loren Taylor wants to incentivize Cannabis Business operators to help the city reach its goals of hiring those who live in Oakland and those who were adversely affected by incarceration from drug activities.

Although the revenues for 2018-2019 have grossed more than $13.8 million for the general fund that helps to fund police, homeless services, public works and other functions, “there is a need to make sure we honor our commitments to diversity in the workforce of this industry as well,” said Taylor.

Taylor wants data that measures who benefits because “if you can’t measure, you can’t improve.”

He cited how SB1294 provided $millions in grants to Oakland, yet some of the money (approximately $200,00) is just sitting in an account.

Taylor also acknowledged that achieving true equity throughout the vertically integrated industry is difficult but he is hopeful that the new cannabis entrepreneurs are willing, “With some tax rebate incentives we can close the gaps.”

He introduced a draft ordinance to the City’s Finance Committee on Oct. 8 that aims to improve upon Oakland’s Cannabis Equity Program and make it more successful.

“As Oakland builds on the work that has already been done, I aim to direct our collective knowledge towards a cannabis solution that focuses on equity and small businesses,” said Taylor. “I have heard from many different stakeholders on this critical issue and know we must incentivize the behaviors we wish to see.”

In June of this year there was a proposed across-the-board tax reduction for cannabis businesses, but Loren recognized that advancing this proposal would merely exacerbate the status quo in the cannabis industry : the fast growth of companies whose majority white- ownership and employee base does not reflect the diversity of Oakland nor provide meaningful wealth creation opportunities for the intended targets of its Cannabis Equity Program – Oakland’s Black and Latino residents who have been significantly negatively impacted by the war on drugs.

Taylor’s proposal ensures that business tax relief is tied to the behaviors and outcomes he believes will deliver on Oakland’s stated priorities. These priorities are::

1. Repairing the harm cause by local, state and federal governments’ past actions (e.g., the war on drugs that had a disproportionate impact on the Black Community)

2. Increasing the quality of life for all Oakland workers

3. Driving greater business opportunities for Oakland businesses

To see a video of Councilmember Taylor’s presentation to the Finance Committee, visit http://oakland.granicus.com/MediaPlayer.php?view_id=2&clip_id=3400&meta_id=283804

J Barry Washington

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Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

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3 weeks ago

March 17, 2026

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Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC