Commission on the 21st Century Economy Issues Recommendations to Modernize, Stabilize & Simplify California’s Outdated Tax System:
"Commission on the 21st Century Economy Issues Recommendations to Modernize, Stabilize & Simplify California’s Outdated Tax System
SACRAMENTO, CA – Today the Commission on the 21st Century Economy released its final report and recommendations on ways to update and improve California’s out-dated revenue system and make it more reflective of our state’s economy. The report reflects nine months of work by the 14-member bi-partisan commission that was jointly appointed in December by the Governor and Legislative leaders. The Commission’s charge was to suggest ways to modernize California's out-of-date revenue laws in order to improve the state's economic competitiveness and to reduce the revenue volatility that has led to the state's feast-or-famine state budget cycles.
“The boom-and-bust economic cycles the current tax system depends on has turned our state budgeting system into an unpredictable roller coaster ride that brings windfalls one year and painful deficits the next,” said Governor Schwarzenegger. “I asked the commissioners to think outside the box and they certainly did. I applaud the hard work of the bipartisan commission and encourage everyone to give the recommendations a thorough review.”
http://www.cotce.ca.gov/"
"Commission on the 21st Century Economy Issues Recommendations to Modernize, Stabilize & Simplify California’s Outdated Tax System
SACRAMENTO, CA – Today the Commission on the 21st Century Economy released its final report and recommendations on ways to update and improve California’s out-dated revenue system and make it more reflective of our state’s economy. The report reflects nine months of work by the 14-member bi-partisan commission that was jointly appointed in December by the Governor and Legislative leaders. The Commission’s charge was to suggest ways to modernize California's out-of-date revenue laws in order to improve the state's economic competitiveness and to reduce the revenue volatility that has led to the state's feast-or-famine state budget cycles.
“The boom-and-bust economic cycles the current tax system depends on has turned our state budgeting system into an unpredictable roller coaster ride that brings windfalls one year and painful deficits the next,” said Governor Schwarzenegger. “I asked the commissioners to think outside the box and they certainly did. I applaud the hard work of the bipartisan commission and encourage everyone to give the recommendations a thorough review.”
http://www.cotce.ca.gov/"