The Biggest Tax Cut In California History
Nobody blogs about it. Nobody talks about it. Yet, if you want to know the real engine behind California’s economy, you have to acknowledge its central role. If you see improving financial health in school districts and other government institutions, its at the center of the reasons why. The answer is SB 899. This bill, signed April 14th, 2004, by a Governor with a 72% approval rating, has unleashed the largest single tax cut in California history. The author of the legislation, Senator Chuck Poochigian, has put more money in the pockets of business, and saved government entities more money than any elected official – ever. The Fresno Unified School District, facing a takeover by the State due to a $31 million dollar deficit, closed the gap and balanced its books with the help of this legislation.
What was SB 899? Simply, Workers’ Compensation reform.
Workers’ Compensation is a payroll tax, a mandatory form of insurance designed to protect workers from industrial and work related injuries. In California, it became, with the help of liberal Democrats, public employee unions, and Gray Davis, one of the most significant job killing… Read More