Posts Tagged: business-friendly
California’s Democratic Party is enjoying unprecedented prosperity, with command of the Legislature, all statewide offices, most of the state’s congressional delegation and a heavy registration advantage. And the party’s new leader wants to spread the wealth. “California will play an ever more important role nationally because of our early primary,” said newly elected Chairman Rusty Hicks.
Changing Proposition 13, the landmark, tax-cutting ballot initiative that California voters approved in 1978, is the goal of a constitutional amendment aimed at next year’s ballot. The plan by two Senate Democrats – Holly Mitchell of Los Angeles and Loni Hancock of Berkeley – would allow commercial and business properties to be regularly reassessed for tax purposes, with an exemption for properties worth less than $500,000. Under current law – Proposition 13 – those properties are only reassessed when there is a change in ownership.
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