California State Legislators have wasted no time bringing forward proposals to raise taxes even further on hardworking California families and small businesses, following the passage of federal tax reform.
The latest example, Senate Bill 993 by Senator Bob Hertzberg, would add even more service taxes for common services used by businesses across the state, such as lawyers, consultants, and accountants.
An earlier bill, Assembly Constitutional Amendment 22 by Assemblymember Kevin McCarty, would impose an across-the-board 10 percent surcharge on all businesses with revenue over $1 million per year.
VICA President Stuart Waldman said:
“As economic development teams and business groups try to attract investment in the state, reckless proposals such as SB 993 and ACA 22 undermine our message that businesses can thrive in California.
“The introduction of these proposals sends a message to major potential employers, such as Amazon, that companies should choose to locate in a state which won’t arbitrarily tax business.
“California is running a budget surplus, and we don’t know yet how federal tax changes will affect our state. These proposals are poorly-considered and disproportionate responses to federal tax reform which will have lasting ramifications on our state economy.”
Contact: Stuart Waldman, President
Valley Industry and Commerce Association (VICA)
Office: (818) 817-0545 / Cell: (818) 439-1983