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Business Tax

June 25, 2013 | by Marc Lifsher, Los Angeles Times
SACRAMENTO - Gov. Jerry Brown's drive to revamp a nearly three-decade-old business tax break teetered late Tuesday as he struggled to round up commitments for aye votes from a needed two-thirds of the members of the state Senate. Lobbying and head counting on the controversial bill to all but eliminate the $750-million-a-year enterprise zone program forced multiple postponements of a scheduled 4 p.m. session and sowed doubts about whether the governor would get his way. The program "is wasteful.
May 2, 2013 | By Chris Megerian, Los Angeles Times
SACRAMENTO - California has been flooded with revenue this tax season and is on track to finish the fiscal year with a surplus of billions of dollars, according to officials. State coffers contain about $4.5 billion more than expected in personal income tax payments. Nearly $2.8 billion of it arrived April 17, the third-highest single-day collection in California history, according to government figures. Business taxes have also rebounded and are likely to be $200 million ahead of projections.
March 26, 2013 | By Catherine Saillant
Saying it had no choice in the face of persistent budget deficits, the Los Angeles City Council agreed Tuesday to examine a package of controversial cost-cutting proposals that one councilman likened to a “declaration of war” on city workers and business. The action, suggested by Councilman Bernard C. Parks, directs City Administrator Miguel Santana to prepare reports on a number of areas where the city could reduce costs, including doing away with a shortened work week for police officers, deferring or eliminating proposed employee raises and abandoning efforts to reduce the business tax. The city currently faces a budget shortfall of $150 million to $160 million, according to Santana.
February 28, 2013 | By Seema Mehta, Los Angeles Times
With just days to go before the mayoral primary election, two of the liberal candidates' support for the elimination of a city business tax is a notable signal to commerce. Wendy Greuel's and Eric Garcetti's pushing for the move as a way to kick start economic growth recalls supply-side economic policy and puts them at odds with many Democrats' beliefs. Garcetti is the final candidate to be profiled by the Times in a series of articles that examines pivotal moments in the mayoral candidates' lives.
February 27, 2013 | By James Rainey, Los Angeles Times
In the debate over who should be the next mayor of Los Angeles, who would you suppose argues for elimination of a business tax to kick-start economic growth? Not the one-time investment banker who dropped out of the race early and says killing the business tax would leave a huge hole in the city treasury. Not the lone Republican in the field, who wants more modest business tax reform. Not a City Council fiscal hawk, also a candidate for mayor, who says cutting the tax could leave the city with a $400-million shortfall.
February 12, 2013 | Steve Lopez
You know you live in a wild news town when a massive manhunt for an ex-cop leads to a dramatic shootout and inferno on a snow-covered mountain, the mayor pitches a tax increase that's beginning to look like attempted extortion, and the rebuked local cardinal at the center of a massive molestation scandal announces he's headed to Rome to pick the next pope. Christopher Dorner, Mayor Antonio Villaraigosa and Cardinal Roger Mahony each could fill my space today, but they're going to have to share it. :: As I write on deadline, a cabin in the mountains is ablaze, and the hunt for Dorner appears to have ended.
February 11, 2013 | Michael Finnegan and James Rainey
City Controller Wendy Greuel has tried to set herself apart from rivals in the Los Angeles mayor's race by casting herself as a frugal budget expert well qualified to lead the city's recovery from chronic cash shortfalls. But her plans for major expansions of the police and fire departments, along with her pledge to abolish the city's business tax, set her apart in a different way: Her agenda would cost Los Angeles far more than anything proposed by her opponents. It would also make it harder to restore recent cuts in sidewalk repairs, tree trimming and other services, or to weather the next economic downturn, experts say. One of the next mayor's toughest tasks will be to close deficits projected to range from $216 million to $327 million a year.
February 9, 2013 | Steve Lopez
You're six months behind on the mortgage. Your credit cards are maxed out. Your small business is treading water. Meanwhile, a tree has fallen on the roof of the office, the parking lot is full of potholes, and you've promised raises to employees, along with free healthcare into eternity. So what should you do about a mounting deficit that could lead to bankruptcy? You could make some hard choices, or you could follow the lead of the candidates for mayor of Los Angeles. I subjected myself to two mayoral debates last week - one at the Autry National Museum and another at the Valley Performing Arts Center at Cal State Northridge - and I listened to a third debate on KPCC.
February 8, 2013 | Maeve Reston
The top five candidates for Los Angeles mayor faced an unusually tough grilling Thursday led by Austin Beutner, the former deputy mayor who once stood as a leading contender in the race. While in past debates the candidates have offered a striking lack of specificity about how they would tackle the city's looming $1-billion budget deficit, Beutner -- a retired investment banker who served as Mayor Antonio Villaraigosa's first deputy until mid-2011 -- repeatedly pressed them for details at a lively San Fernando Valley forum.
January 15, 2013
Re "L.A.'s future: 'Silicon Beach,'" Opinion, Jan. 9 Lucy Hood misses a major point. The tech industry has grown in Los Angeles on its own. She wants tax breaks and investment incentives "to make Los Angeles the global technology center that it could become. " She describes the growth that has occurred without subsidies. She wants the mayor to appoint a chief technology officer who would raise venture capital money (there is no dearth of private companies that do this) and bring together leaders in academia and industry (as if mutually beneficial relationships are hard to set up)
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