Tax-Increase Measures to Become Propositions on the Fall Ballot
While nearly a dozen tax-increase measures have been approved by the Office of the Secretary of State for signature gathering, four measures stand out as most likely to become propositions on the fall ballot because of the big money behind them.
Sacramento is promoting an initiative that would raise between $4.8 billion and $6.9 billion. While it would increase sales taxes and income taxes on upper-income filers, independent analysis shows that most of the money will come from the sales tax increase, which would have the greatest impact on middle- and lower-income families. Among those funding Brown’s measure are the California Hospitals Committee, the American Beverage Association, Occidental Petroleum, and Native American gambling interests, all of whom could benefit from the governor’s favor.
Wealthy Southern California lawyer Molly Munger has pledged $2 million to her own tax measure that would raise between $10 billion and $11 billion by raising income taxes on all Californians.
We’ll have more info in a future blog.
Legislative Day — Educational and Informative
Our September 9 Legislative Day and Real Estate Fair was a success! It was educational — as exampled by Ari Telias’ presentation on graffiti. It was also informative — demonstrated with speeches by Dan Rosenfeld on transportation issues and by John Noguez on Proposition 13.
Every year LACBOR brings key speakers to the Real Estate community. This year’s line-up included representation from each of the five Los Angles County Supervisors (Mark Antonovich, Don Knabe, Gloria Molina, Mark Ridley-Thomas, and Zeb Yaroslavsky), our Los Angeles County Tax Assessor (John Noguez), and a representative from the California Association of REALTORS® (Matt Garth, Political Affairs Field Rep for SoCal).
If you missed LACBOR’s educational and informative opportunity this year, be sure to attend next September!
AUTHOR: Warren Rohn, LACBOR Executive Director www.LACBOR.org and www.MrktPln.com
