On July 14th, the IRS held a public hearing for the debt-equity rule (section 385 of the IRS code) that the Treasury Department proposed last April. The hearing, which had as many as 16 speakers from various industries,...
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- Vast Majority of California Voters Like Jerry Brown'...
Vast Majority of California Voters Like Jerry Brown's Tax Increase Plan
According to a new survey by the Public Policy Institute of California, most Californians are in favor of Jerry Brown's recent proposal to increase income taxes on high income earners and increase the sales tax from 7.25 to 7.75 percent. From their press release:
- "Sixty-five percent of all adults and 60 percent of likely voters favor the proposal, while 28 percent of adults and 36 percent of likely voters oppose it."
- "Nearly all Californians (93%) say the state's budget situation is a problem. Most residents (62%) say their local government services-those provided by cities, counties, and public schools-have been affected a lot by recent budget cuts."
- "When Californians are asked a follow-up question about how they view his proposal if new revenue were to go directly to schools, 70 percent of all adults and 58 percent of likely voters favor it (27% all adults, 37% likely voters opposed)."
- "With K-12 education making up a large share of the expected 'trigger cuts,' a strong majority (85%) of Californians are concerned (53% very, 32% somewhat) about the potential effects on public schools."
For a list of the five ballot initiative proposals bubbling up in California, click here.
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The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.
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