California voters have seen a deluge of local government tax and bond measures in recent elections and will face even more this year. The California Taxpayers Association has counted 231 local sales and parcel tax increases and bond issues (which automatically increase property taxes if approved) on the March 3 primary ballot...
California Bill Would Strip Tax Break for Vacation Homes
SACRAMENTO — California would raise taxes on some homeowners and use the money to pay for homeless services under a bill proposed Thursday. Assemblyman David Chiu, a Democrat from San Francisco, wants to eliminate the mortgage interest deduction on vacation homes. His bill would also lower the amount of mortgage...
Watch New 2020 Law #7: Health Insurance About to Be Mandatory in California
By Byrhonda Lyons, CalMatters In 2020, California will make health insurance mandatory — and charge a tax people to people without. For people who lack it now, there’s an upside: The state also will began giving subsidies to those who don’t qualify for assistance through the federal Obamacare program. In 2018,...
California Feud With Trump Could Impact Budget Surplus
SACRAMENTO — California is bracing for a much smaller budget surplus next year because of its ongoing feud with the Trump administration about a tax involving Medicaid, the state's chief budget writer said Monday. California is projected to have a $7 billion surplus, with $3 billion of it available to...
Now Roquefort: US Eyes Tariffs on $2.4B in French Imports
WASHINGTON — The Trump administration is proposing tariffs on up to $2.4 billion worth of French imports — including Roquefort cheese, handbags, lipstick and sparkling wine — in retaliation for France’s tax on American tech giants like Google, Amazon and Facebook. The Office of the U.S. Trade Representative charged Monday...
Divided US House Committee Backs Pot Decriminalization
LOS ANGELES — A divided U.S. House committee approved a proposal Wednesday to decriminalize and tax marijuana at the federal level, a vote that was alternately described as a momentous turning point in national cannabis policy or a hollow political gesture. The House Judiciary Committee approved the proposal 24-10 after...
Walters: Local Governments Are in Distress
California’s economy has been booming for most of this decade and has generated a cornucopia of tax revenues for state and local governments. The state has benefited most, because it collects income taxes. Californians’ taxable incomes have been soaring, especially for those atop the economic ladder, whose tax rates also...
Fresno Unified Wrestles With How Big to Make Bond Measure
Faced with lower community support for a bond measure that would hike property taxes, the Fresno Unified School Board appears split on whether to ask voters to greenlight a $500 million bond measure. The board is likely to vote on a bond measure resolution at the Nov. 20 meeting following...
With $700M Wish List, Fresno Unified Mulls $500M Bond Measure
Less than a month remains before the deadline to get a bond measure on the March 3 ballot, but Fresno Unified School District is still waiting for the results of a second community survey to gauge support for bond measures totaling $325 million or $500 million. Both would likely result...
Walters: Old Tax Loopholes Live Again
Everything old is new again, at least when it comes to punching loopholes in state tax laws to benefit corporate interests. As noted in a recent column, legislation is moving to re-establish “redevelopment” in California cities, albeit with a new name, just a few years after the program was eliminated. It’s...