Testimony - Commission on the 21st Century Economy
Governor Schwarzenegger's Executive Order S-15-09 mandated the bipartisan Commission on the 21st Century Economy to re-examine and modernize California's out-of-date revenue laws that contribute to feast-or-famine state budget cycles.
The Commission is comprised of 14 members; seven appointed by the Governor, and seven appointed by the legislature.
Applying the principles outlined in Governor Schwarzenegger's Executive Order S-15-09, the Commission will suggest changes to state and local revenues that will result in a revenue stream that is more stable and reflective of the California economy. The Commission will report its findings to the Governor and legislature on or before September 20, 2009.
Principles
Establish a 21st century tax structure that fits with the state's 21st century economy;
Stabilize state revenues and reduce volatility;
Promote the long-term economic prosperity of the state and its citizens;
Improve California's ability to successfully compete with other states and nations for jobs and investments;
Reflect principles of sound tax policy including simplicity, competitiveness, efficiency, predictability, stability, and ease of compliance and administration;
Ensure that tax structure is fair and equitable.
Governor Schwarzenegger's Executive Order S-15-09 mandated the bipartisan Commission on the 21st Century Economy to re-examine and modernize California's out-of-date revenue laws that contribute to feast-or-famine state budget cycles.
The Commission is comprised of 14 members; seven appointed by the Governor, and seven appointed by the legislature.
Applying the principles outlined in Governor Schwarzenegger's Executive Order S-15-09, the Commission will suggest changes to state and local revenues that will result in a revenue stream that is more stable and reflective of the California economy. The Commission will report its findings to the Governor and legislature on or before September 20, 2009.
Principles
Establish a 21st century tax structure that fits with the state's 21st century economy;
Stabilize state revenues and reduce volatility;
Promote the long-term economic prosperity of the state and its citizens;
Improve California's ability to successfully compete with other states and nations for jobs and investments;
Reflect principles of sound tax policy including simplicity, competitiveness, efficiency, predictability, stability, and ease of compliance and administration;
Ensure that tax structure is fair and equitable.
