07/09/2008
CONTACT: Michelle Orrock, 916-448-9904
SACRAMENTO, Calif. -- The National Federation of Independent Business/California, released the following statement today in response to a legislative plan to impose $7 billion in new taxes on Californians:
"California small businesses are vital to the California economy, so raising taxes just picks their pockets of vital resources and puts jobs in jeopardy," said John Kabateck, NFIB/California executive director. "A 6.8 percent unemployment rate is not the sign of a healthy economy, and increasing taxes will only add to the many struggles facing California workers and small businesses."
"Eighty percent of small businesses file under the Personal Income Tax (PIT) system, so increasing the PIT rate directly impacts the large majority of small businesses. If California's job creators are to help rescue the state economy and raise state revenues, they need all available resources to invest in their businesses. Proposing to balance the budget on the backs of California small businesses shows the failure of many legislators to control spending in a manner that any family or successful business would have to do."
