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Article: Early steps taken in what could be a pitched battle over corporate tax loopholes
- Article from:
- Oakland Tribune
- Article date:
- July 13, 2009
- Author:
CopyrightCopyright 2009 Oakland Tribune. Provided by ProQuest LLC. (Hide copyright information)
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SACRAMENTO -- Voters may have the chance to repeal corporate
loopholes in what could be an epic and expensive ballot measure
fight next year.
The measure, submitted last week by a liberal taxpayer advocate
and a pair of labor groups, seeks to reverse three corporate tax
breaks before they take full effect at more than $2.5 billion a
year. Lawmakers agreed to the loopholes as part of budget agreements
last fall and in secret negotiations in February.
"These loopholes showed how special interests with a handful of
(Republican) votes were able to hold up the budget and walk away
from secret negotiations with a pretty good deal," said Lenny
Goldberg, executive director of the California Tax ...