Inside the Beltway News – Wednesday
I caught two interesting stories on NPR’s "Morning Edition" during my commute–one of which included an interview with California pol and consultant Jim Brulte.
The first story includes an interesting suggestion from one local Wisconsin government official about the impacts from the likely closing of General Motors Janesville plant. Noting that the plant property is appraised at about $40 million, generating $850,000 per year in property tax revenue, the city economic development director posited that a closing might halve the property tax assessment for the plant, and therefore cut tax revenue to the city.
The city’s likely response, he says: raise rates on the other (remaining) properties in town to backfill.
No mention of simply making due with less, or enacting cuts elsewhere. A link to the audio is here.
On to California, which according to yesterday’s Financial Times profile of the City of Angels, is the largest manufacturing center in the United States. (LA Observed linked to the piece,… Read More