Tax Relief and Job Creation Bills Rejected

Sacramento, Calif.- –Assemblyman Ted Gaines, R-Roseville, said he is disappointed that members of the Assembly Revenue and Tax Committee chose to defeat two of his measures Monday which would have provided tax relief to millions of Californians.

Assembly Bill 1700 would have repealed most of the costly increased sales and personal income taxes that were increased in February of 2009 and Assembly Bill 2225 would have immediately repealed the 10 percent increase to tax withholding schedules.

‘During a time when many hard-working California families are struggling to make ends meet, the Legislature made life harder last year by passing the largest tax increase in state history,’ Gaines said. ‘My bills would have given families a break and provided them the financial relief they need.’

Assembly Bill 1700 would have saved taxpayers billions of dollars overnight by repealing the following February 2009 budget tax increases that totaled more than $12 billion:

• Personal income tax increase of .25 percent
• Sales tax increase of 1 percent
• Child dependent exemption credit reduction from $309 to $98

Last month, Assembly Democrats also defeated Gaines measure, Assembly Bill 2603, which would have required state agencies to both streamline and reduce the number of state regulations on the books, and make it easier and less costly to create and retain jobs in California.
 
‘I will continue to introduce similar measures that relieve the burden on our taxpayers and make it easier for people to do business here in California, Gaines said. “‘It is time we start taking real action to alleviate the problems that plague the potential prosperity of our great state.'”

Assemblyman Ted Gaines represents the 4th Assembly District, which includes portions of Placer, El Dorado, Sacramento & Alpine counties.