As lawmakers begin to haggle over the state budget, the California Tax Reform Assn. said Wednesday that they need to eliminate $6 billion in tax breaks for large corporations. The association's report said taxing oil production, altering property tax assessments on corporate buildings and other changes would help the state close an estimated $15.7-billion budget gap. Republicans have blocked efforts to raise taxes, which Democrats say has exacerbated the state’s budget crisis. “There is overwhelming public support for closing loopholes before cutting vital programs,” Lenny Goldberg, the association’s director, said in a statement. “Hopefully the Republicans will listen to the will of the majority of Californians and end these abuses in the tax system before harming schools and services.” Jon Coupal, president of the Howard ... Continue reading →

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