Initiative Update

CalTax and others this week launched Stop the Tax on Working Families, a campaign to defeat the flawed tax increase on working families that has qualified for the November ballot. “Californians already face some of the highest taxes in the nation, and hundreds of billions more have been proposed this year at both the state and local level,” CalTax President Robert Gutierrez said. “Working families cannot afford this new tax, which will drive up the cost of living and drive…

Two newly filed initiatives seek major tax increases – a property tax increase targeted at business property and an income tax increase on high earners – at a time when the state already is collecting a revenue windfall. Initiative 21-0023, filed September 23, would impose a 1.2 percent property tax “surcharge” on commercial, residential, industrial, and mixed-use real property – or vacant land – with “full cash value” of $5 million or more, and a lower amount on property valued…