Democratic lawmakers in California unveiled a plan on Monday for nearly $5 billion of tax and fee increases to help fill the state government's $19.1 billion budget gap.The Governator offered lots of cuts and no new taxes. For all the mistakes he's made, he got that one right. This budget plan by Dems better be dead on arrival.
The plan by state Senate Democrats would raise $4.9 billion by raising California's vehicle registration fee, suspending corporate tax breaks scheduled to begin next year and boosting the state's tax on alcoholic beverages.
Democrats control both chambers of the state's legislature and have said they would seek new revenue to help plug the shortfall.
Republican Governor Arnold Schwarzenegger, by contrast, has ruled out tax increases and is relying largely on deep spending cuts in his plan for balancing the state's books. He has called for $12.4 billion of cuts and would scrap the state's welfare system, a plan Democrats have rejected.
Republicans in the legislature's minority immediately criticized the proposed tax increases, signaling they will use their votes to block them. Democrats lack the votes to pass tax measures on their own.
Analysts expect budget negotiations between Schwarzenegger and lawmakers will drag on and press into the state's next fiscal year, which begins in July.
Monday, May 24, 2010
California Dems Propose New Tax Hikes
Just what an economy with a 12.2% unemployment rate really needs right now:
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I really don't care what party you belong to or favor. The democrats that came up with this Raise Your Taxes and Fees have gone past the line in the sand. They are completly nuts. Come November they should be VOTED OUT of office.
Our main problem in California is that no one in Sacramento knows what is means to have a Balanced Budget. Sure it will hurt like heck to balance the budget, but if they don't we will just go further and further in debt and our Taxes will go higher and higher.
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