Gavin Newsom: “Looking at the payroll tax system that perversely rewards…”

“Looking at portable benefits radically differently. We have something called Secure California as it relates to retirement benefits. We're looking at other benefits that aren't attached, like health care to your employer. Looking at the payroll tax system that perversely rewards the exact thing we want to avoid. which is we give tax credits for automation, but we penalize businesses for hiring. And looking at strategies to address that that don't impact Social Security and Medicare.” (34:25–34:34)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.