TITLE

Opponents Mobilize Against California 'Car Tax' Increase

AUTHOR(S)
Finestone, Deborah
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/24/2003, Vol. 344 Issue 31663, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
California's move to increase its vehicle license fee and boost revenue by $4.2 billion in the fiscal year 2003 will be challenged by republican lawmakers and anti-tax advocates. The state will resume assessing the fee at 2% of the car's value. Since revenue from the fee had been directed to cities and counties, the state agreed to backfill the revenue not being collected from the fee out of its general fund. The state no longer had sufficient revenue to offset the VLF, as it had to pay off $9.5 billion of revenue anticipation notes issued in 2002.
ACCESSION #
10138229

 

Related Articles

  • Welcome to the Bond Buyer's Seventh Annual California Public Finance Conference--and to the... Yacoe, Donald // Bond Buyer;9/11/97 Supplement California, Vol. 321, p2A 

    Focuses on California's legislative approach to public finance which tends to pursue a patchwork of remedies instead of comprehensive solutions. Leadership of the state in terms of municipal bond issuance; Increase in the state's municipal bond volume.

  • State budget system is broken.  // Business Journal Serving Fresno & the Central San Joaquin Valley;5/16/2003, Issue 323087, p20 

    Editorial. Comments on the state budget in California. Disadvantage on the existing financing system of the state; Increase in the population; Importance of amendments to the budget system.

  • Facing a Squeeze Between the Current Crisis and Future Needs. Finestone, Deborah // Bond Buyer;3/3/2003, Vol. 343 Issue 31584, FAR WEST p74 

    Reports on public finance conditions of California as of March 3, 2003. Estimated budget deficit by the end of July 2004; Proposed measures of the state's governor Gray Davis to close the budget deficit; Amount of bonds issued by the state and state-level issuers in various sectors during...

  • Opponents of Calif.'s Prop. 57 & 58 Contribute $685,000 to Cause. Williams, Rochelle // Bond Buyer;2/3/2004, Vol. 347 Issue 31813, p32 

    Reports on the issue concerning the recovery bond proposal of Governor Arnold Schwarzenegger in the state of California. Action taken by the opponents of the borrowing plan; Efforts of supporters to fund a public campaign in support of the plan; Details about the bond proposal.

  • Assault on state's taxpayers is wrong answer. McCarthy, Larry // Business Journal Serving Fresno & the Central San Joaquin Valley;6/20/2003, Issue 323102, p25 

    Comments on a number of legislative bills for increasing tax in California. Response to insufficient state budget; Recommendation of better management of taxes already paid; Importance of a systematic review of every state program.

  • State Still Seeing Nominal Return on Funds Sent to D.C. Fine, Howard // San Diego Business Journal;8/30/2004, Vol. 25 Issue 35, p3 

    Reports that the state of California is still seeing nominal return on funds sent to Washington, D.C. Rank of the state in the list of those getting its return on tax dollars; Common perception that the state is not getting its fair share because of partisan politics and the inability of the...

  • Davis to Veto Budget Cuts Hinging on Vehicle License Fee. Finestone, Deborah // Bond Buyer;2/5/2003, Vol. 343 Issue 31567, p5 

    Reports on plans of California governor Gray Davis to veto a package of budget cuts related to an increase in the state's vehicle license fee. Plans of the state to sell general obligation bonds; Moves of Democratic majorities in the Senate and assembly regarding budget cuts; Possible impact of...

  • Drought Spurs California to Speed Up Water Bond Outlays. Webster, Keeley // Bondbuyer.com;3/23/2015, p5 

    The article reports on legislation proposed by California legislators to accelerate bond spending for drought relief in 2015. Topics discussed include water scientist Jay Famiglietti's report on the one-year supply of water left in the state's reservoirs, spending approved by voters in November...

  • This year the state sits down to a feast.  // Business Journal Serving Fresno & the Central San Joaquin Valley;07/10/2000, Issue 322640, p34 

    Editorial. Examines the budget of California for 2000-2001 and its impact on the state's economy. Budget creating 103 permanent programs; Government spending reaching 40 percent of the state's economy; Funding of ghost employees; Approval of the 2000-2001 State budget.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics