City of San Jose Endorses Prop 39
Councilmembers Urge Voters to Close Unfair Tax Loophole
San Jose, CA – The Yes on Prop 39 campaign announced today that the San Jose City Council has officially endorsed Prop 39, the November 2012 ballot measure that will close a tax loophole to bring dollars and jobs back to California.
“Prop 39 will help us to ensure that our state, and our region, remain at the forefront of clean tech innovation and development. This is a goal to which the City of San Jose – the capital of the Silicon Valley – is dedicated,” said San Jose City Councilmember Sam Liccardo, who drafted a memo urging his council colleagues to endorse Prop 39. “Closing this loophole will help make our economy strong, and provide cities like San Jose, an opportunity for financial and technical assistance on construction projects, workforce development, and public-private partnerships.”
San Jose joins other municipalities and leaders from throughout the state, such as Lieutenant Governor Gavin Newsom, Senate President pro Tem Darrell Steinberg, Assembly Speaker John Pérez, Los Angeles Mayor Antonio Villaraigosa, Sacramento Mayor Kevin Johnson and many others, in endorsing Prop 39.
“Prop 39 ends an unfair tax system that benefits out-of-state corporations, a much-needed fix that will bring $1 billion in tax revenue back to our state,” said San Jose Councilmember Donald Rocha. “The measure will level the playing field for California businesses while helping to fund education, public safety and other social programs that have been hurt during recent budget cuts – it’s a win-win for all Californians.”
Prop 39 will close a $1 billion tax loophole, created in a last-minute, closed-door budget deal in 2009 that gives out-of-state corporations an unfair tax advantage over businesses that employ more Californians. Closing this loophole will restore fairness to California’s corporate tax system.