You are here: Home » Politics »

California Gov. Jerry Brown Pushes Tax Hikes

02/01/2011 7:57 am 0 comments

Source: Tami Luhby / CNN Money

New York – Californians should decide whether they want to pay $12 billion more in taxes to help plug the state’s massive budget shortfall, Gov. Jerry Brown said on Monday.

In his State of the State address, Brown urged legislators to put his plan to extend income and sales tax hikes on the ballot in a special election in June. If they don’t, the governor said the state will see even harsher spending cuts than the $12.5 billion he is proposing.

Brown, who just started his third term after serving as California’s governor in the 1970s and 1980s, has laid out a plan to solve the state’s $25.4 billion budget shortfall that hinges on voters approving an extension of tax hikes first passed in 2009 to address an earlier shortfall.

The tax proposals include renewing a quarter-percentage point increase in personal income tax rates, which expired at the end of 2010, and maintaining a 1 percentage point bump in the sales tax, which lapses at the end of June. The higher rates would remain in effect for five years.

To read this article in its entirety visit CNN Money.

Related Posts Plugin for WordPress, Blogger...

Sphere: Related Content

Related Posts

President Obama To Address Business Lobby

President Obama To Address Business Lobby

Source: Charles Riley / CNN Money President Obama will march out of the White House on Monday morning and make his ...

Governors Put State Jobs On The Chopping block

Governors Put State Jobs On The Chopping block

Source: Tami Luhby / CNN Money New York - There will be lots more state workers joining the unemployment line this ...

Dodd: Time to reform Wall Street is now

Dodd: Time to reform Wall Street is now

Source: Jennifer Liberto/CNN Money The head of a key banking panel on Monday released a draft bill of sweeping regulatory ...

CBO To Debt Committee: Cutting Now Could Hurt U.S.

Source: Jeanne Sahadi / CNN Money New York - Cutting spending and raising taxes now could put a drag on ...

Most Americans Can’t Afford A $1,000 Emergency Expense

Most Americans Can’t Afford A $1,000 Emergency Expense

Source: CNN Money New York - When the unexpected strikes, most Americans aren't prepared to pay for it. A majority, or 64%, ...

Still No Deal To Raise The Debt Ceiling

Still No Deal To Raise The Debt Ceiling

Source: Charles Riley / CNN Money New York - The facts about the debt ceiling haven't changed. There are less than ...

Minnesota Government Shutdown To End Soon

Source: Chris Welch / CNN Money ST. PAUL, Minn., - Democratic governor Mark Dayton and leaders of the Republican-controlled legislature have ...

Beer: The Next Casualty Of Minnesota Shutdown

Beer: The Next Casualty Of Minnesota Shutdown

Source: Chris Welch / CNN Money Minneapolis - The MillerCoors brewing company will soon be forced to pull 39 brands of ...

Bernanke: U.S. Default Would Cause ‘Major Crisis’

Source: Annalyn Censky / CNN Money The Federal Reserve Chairman has issued a stern warning to Congress repeatedly this year: if ...

Minnesota Government Shutdown Costly To State And Businesses

Source: Tami Luhby / CNN Money Minnesota's government shutdown is taking an economic toll on businesses and professionals around the state. And it's ...

President Obama To Address Business Lobby

Governors Put State Jobs On The Chopping block

Dodd: Time to reform Wall Street is now

CBO To Debt Committee: Cutting Now Could Hurt

Most Americans Can’t Afford A $1,000 Emergency Expense

Still No Deal To Raise The Debt Ceiling

Minnesota Government Shutdown To End Soon

Beer: The Next Casualty Of Minnesota Shutdown

Bernanke: U.S. Default Would Cause ‘Major Crisis’

Minnesota Government Shutdown Costly To State And Businesses

More from the Roland S. Martin Blog

Politics Washington Watch
Rep. Clyburn Pushes The Clyburn Amendment To Help The Poorest Of The Poor (VIDEO)

Rep. James Clyburn joined Roland Martin on the set of Washington Watch to discuss the Clyburn Amendment. This amendment was created to help the poorest of the poor across the United States. MR. MARTIN: Is there anything specific the President and Congress can do to target African-Americans when it comes to this high unemployment number? REP. CLYBURN: Yes, there is, and we – you’ll find it in the rule development part of the so-called “stimulus bill.” I- — was – [...]
Read more →
News
WASHINGTON WATCH: Rep. James Clyburn On Feb. Job Numbers, African-American Unemployment, Bipartisan Jobs Bill (VIDEO)

New employment numbers came out Friday showing the economy continues to recover and continues to add jobs at a pretty healthy pace. There were 233,000 private-sector jobs created in February. That’s two, solid years of private-sector job growth. The unemployment rate was steady at 8.3 percent. Black unemployment was 14.1 percent, up half a percentage point from last month. Big job gains came in healthcare, business and professional services, as well as restaurants. The jobs problem and the upcoming election [...]
Read more →
Commentary Sports
ROLAND S. MARTIN: Props To NCAA For Banning Connecticut From March Madness

By Roland S. Martin Editor-in-Chief RolandMartinReports.com March Madness is usually a wild and crazy time on the campuses of the nation’s big-time college basketball programs as fans wait in line for days for tickets to see their favorite collegiate do battle in the NCAA postseason tournament. But if you’re a Connecticut Huskie fan, you’d better hope your team can have a magical run in the Big East tourney and qualify for an automatic bid because when it’s time for [...]
Read more →
Media Politics Roland Martin On CNN Video
Getting To The Polls: Is There An Enthusiasm Gap Amongst Republican And Democratic Voters?

Donna Brazile, Roland Martin, Ari Fleischer, Erick Erickson, Jessica Yellen and Anderson Cooper analyze voter turn out and if there is an enthusiasm gap amongst the GOP and Democrats. Sphere: Related Content
Read more →
Media Politics Roland Martin On CNN Video
Gingrich Has Problems With Women Voters, They Don’t Trust Him (VIDEO)

Roland Martin, Erick Erickson, Donna Brazile, Ari Fleischer and Anderson Cooper discuss Mitt Romney, Newt Gingrich, their wives and Gingrich’s problems with women voters.
Read more →
Commentary Sports
ROLAND S. MARTIN: Football Power In Texas Has Shifted To Houston

By Roland S. Martin Editor-in-Chief RolandMartinReports.com I hate the Dallas Cowboys. No, I don’t dislike them. I flat out cannot stand anything about the Dallas Cowboys. The year they went 1-15, I was ticked they won that one game. When they played in those three Super Bowls in the ’90s, I rooted hard for the opposition. Hell, I hate them more than the Ku Klux Klan! That’s why I take great pleasure in seeing the transfer of power in the [...]
Read more →
Politics
Herman Cain Tops Mitt Romney In Latest CBS/NYT Poll

Source: Corbett B. Daly / CBS News CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto. Businessman Herman Cain is now atop the field of Republican White House hopefuls, squeaking past former Massachusetts Gov. Mitt Romney in the latest CBS News/New York Times poll. Cain garnered 25 percent support of Republican primary voters in the poll released on Tuesday, compared to Romney’s 21 percent. To read this article in its entirety [...]
Read more →
Politics
Rick Perry: Obama Birth Certificate ‘A Good Issue To Keep Alive’

Source: Luke Johnson / The Huffington Post Texas Gov. Rick Perry said the birther issue was worth “keeping alive” in a CNBC interview Tuesday morning. “It’s a good issue to keep alive. It’s fun to poke at him,” said Perry, according to host John Harwood. Perry also spoke evasively about President Barack Obama’s birth certificate in an interview with Parademagazine published over the weekend. When asked if he believed the president was born in the United States, he said, “I have no reason to think [...]
Read more →
Video
What Did You Think Of The GOP Debate? (VIDEO)

CNN’s T.J. Holmes caught up with some folks just after the Las Vegas GOP debate ended. WATCH: Sphere: Related Content
Read more →
Video
Poverty Rises For Blacks In Omaha (VIDEO)

CNN’s Thelma Gutierrez reports on the disproportionate rate of poverty among African-Americans in Omaha, Nebraska. WATCH: Sphere: Related Content
Read more →

← previous next →