January 11, 2018 

LAWT News Service 

 

California State Board of Equalization (BOE) Member Jerome E. Horton issued this statement about Governor Jerry Brown's proposed budget for 2018-19:

 

“California desperately needs state tax reform, including on-the-job training, tax credits for businesses, lowering the personal income tax on poor and middle income families, and more targeted tax-exempt bond financing that encourages investment in education, prison reform, affordable housing, and a clean environment.

 

“These state bonds will provide a tax-exempt interest deduction in exchange for an investment in closing the economic, housing, education, wealth, and criminal justice disparities in California, and offset the loss from the capped state and local tax deduction.

 

“Ultimately, promoting on-the-job training, slowing housing inflation, increasing the disposable income and spending by our citizens, will stimulate the State’s economy, growth, and additional state tax revenue.

 

“The California Legislature should also repeal Proposition 209 that eliminated affirmative action, increase state employee salaries by 5% as a way of stimulating the economy as well as employment of women and minorities at the executive levels of government. To offset the costs, the Legislature can redirect existing unproductive tax credits and/or toll the above mentioned tax credits for one year, pending performance.”

 

Board of Equalization Member Jerome Horton has over 37 years of public and tax policy experience, serving as a member of the Inglewood City Council, State Legislature, California Medical Commission, California Cultural Endowment and Workforce Investment Board and as the 1st African American elected to the California State Board of Equalization.

Category: Business


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