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JERRY BROWN’S revised jobs plan passes Assembly – SF Chronicle

September 9, 2011

Gov Jerry Brown discusses his jobs package alongside backers Art Pulaski (left), Bob Blumenfield and Cameron Smyth.

Jerry Brown’s revised jobs plan passes Assembly

Wyatt Buchanan, Chronicle Sacramento Bureau

Friday, September 9, 2011

Sacramento —

Gov. Jerry Brown has revised his job creation plan to include reduced tax rates for businesses and individuals in order to win Republican support for the measure.

But even with the changes, Brown did not appear to have enough support Thursday night to get it through the Legislature. The plan passed the Assembly 54-10 Thursday evening, but its prospects in the Senate look doubtful. The plan would end a corporate tax break approved by the Legislature in 2009 that allows corporations to choose one of two tax formulas by which state taxes are calculated for them. Ending the break would bring $1 billion annually in revenue to the state by requiring all corporations to be taxed based on sales in California.

Brown said that ending the tax break would spur job growth in the state because the current structure includes an option that rewards companies that create jobs in other states by lowering their tax burden. He also said the new tax breaks for individuals would create economic activity.

“It puts money in people’s pocket, particularly small business, and not affluent people,” Brown said. “They spend every penny they get, and so that’s money into the economy.”

The plan would save corporations about $300 per year and small-business owners $550, according to the Department of Finance. The standard deduction for taxpayers would increase by $1,000, resulting in a tax break of between $10 and $200, with average taxpayers saving about $50.

via Jerry Brown’s revised jobs plan passes Assembly.

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One Comment
  1. September 9, 2011 11:44 AM

    Millions of $ of savings available at University of California Berkeley for hurting students. I love University of California (UC) having been a student and lecturer. But today I am concerned that at times I do not recognize the UC I love. Like so many Alumni, Donors, Legislators, and Californians I am deeply disappointed by the pervasive failures of UC senior management and regents.
    Californians suffers from 19% unemployment (includes those working part time, and those no longer searching), mortgage defaults, loss of unemployment benefits. And those who still have jobs are working longer for less. Chancellor/Faculty wages must reflect California’s ability to pay, not what others are paid.
    UC Berkeley (Cal) planned pay raises for generously paid Faculty is arrogance. UC Berkeley (ranked # 70 Forbes) tuition increases exceed national average rate of increase. Chancellor Birgeneau’s leadership molded Cal into the most expensive public university in the USA.
    Can we do better with a spirit of shared sacrifices by Faculty, Provosts, and Chancellors?
    (17,000 earn more than $100,000)
    No furloughs.
    18 percent decrease UCOP salaries, $50 million budget cut.
    18 percent prune chancellors’ salaries.
    15 percent trim tenured faculty salaries, increase teaching.
    10 percent non-tenured faculty pay decrease, increase research, teaching.
    100% elimination of Academic Senate, Academic Council budgets.

    There is no question the necessary realignments with reality will be painful.

    UC Board of Regents Chair Sherry Lansing can bridge the public trust gap with reassurances salaries reflect depressed California wages. With UC’s shared financial sacrifices, the sky above UC will not fall.

    Yours is the voice that can make the difference, email UC Board of Regents marsha.kelman@ucop.edu

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