New Study from The Center for the Next Generation Makes Case for School Retrofits

as State Legislature Considers How to Direct New Funds

San Francisco, CA – California’s students, workers, and communities could reap huge benefits from a new, voter-approved initiative that closes a business-related tax loophole.  Proposition 39, approved 60-40 by California voters on November 6, could provide these benefits by funding energy efficiency upgrades in thousands of California schools over the next five years, according to a new analysis released today by The Center for the Next Generation, a non-partisan think tank (to view the full analysis, visit: www.tcng.org/files/Prop39_Investing_In_California.pdf ).

Job-Creating Measure Signifies Rare Success to Send New Revenue to General Fund

SACRAMENTO – Proposition 39 was headed for a momentous victory Tuesday night in California, with voters overwhelmingly supporting the measure to close a corporate tax loophole and pump $1 billion a year and tens of thousands of jobs into California. The initiative appeared to be garnering the most votes out of three statewide tax measures, and signified a rare instance of voters approving a new stream of revenues for California’s thread-bare treasury.

“This victory at the polls signifies an enormous win for California, a win for our economy, and a win for direct democracy,” said campaign co-chairman Tom Steyer, who watched election returns with state leaders Tuesday night in Sacramento. “Voters recognized that closing this enormous tax loophole for out-of-state corporations will create tens of thousands of jobs at a time when we so badly need them. They saw the urgent need for more revenues for programs, such as schools, that have been cut to the bone. And they have allowed us to level the playing field for our home-grown businesses and invest in job-creating energy efficiency projects that will help reduce energy bills.”

Steyer said California leaders now must identify high quality energy-saving projects that will bring the most jobs to our communities, and he urged lawmakers to find prudent uses for the new stream of revenue that the cash-strapped state will enjoy.

“Now comes the hard work of identifying the smartest and most efficient way to invest in projects that will create jobs, produce meaningful energy savings and stand the test of time. Every step of the process will be done in the light of day, with citizen oversight and yearly audits built in to this measure. We also challenge lawmakers to make the best use of these new revenues to help right our state’s fiscal ship,” Steyer said.

Huge, Diverse Coalition of More Than 325 Groups Supports Proposition 39

Supporters span ideologies, political parties and interests

SACRAMENTO – With voters facing a lot of choices on tomorrow’s ballot, one measure, Proposition 39, has garnered resounding support from a rare bipartisan coalition comprising more than 325 business, labor and environmental groups, budget experts, elected leaders, education officials, ethnic groups and others.

Proposition 39, which will close a corporate tax loophole and bring billions of dollars and tens of thousands of jobs back to California, also has been endorsed by nearly three dozen newspapers representing all regions of the state.

“The breadth and diversity of our supporters demonstrates that this measure will benefit all of California,” said campaign co-chairman Tom Steyer. “It will help everybody from small business owners and home-grown companies, to schools and those who rely on state services. They’ve all taken hits throughout the recession and welcome this opportunity to grow our economy, reduce our budget deficit and invest in local jobs.”

SAN FRANCISCO – The Yes on Proposition 39 campaign announced today, the eve of Election Day, that San Francisco Mayor Ed Lee has endorsed the measure to close a corporate tax loophole – bringing dollars and jobs back to California.

“Prop 39 will help start a California comeback,” said Mayor Lee.  “Closing this loophole will create tens of thousands of new jobs in California, while making California-based businesses more competitive and encouraging companies to hire and invest in California – a change that our state desperately needs.”

Proposition 39 will close a tax loophole created at the end of the 2009 budget negotiations in Sacramento, adding fairness back to California’s corporate tax system. The middle-of-the-night-deal allowed out-of-state corporations that employ few Californians and invest in little property to pay lower state taxes than their California-based equals.
Mayor Lee joins Los Angeles Mayor Villaraigosa, Lieutenant Governor Gavin Newsom, Senate President pro Tem Darrell Steinberg, Assembly Speaker John A. Pérez, John Burton, and many other California leaders in endorsing Prop 39.

“I’m pleased to have Mayor Lee join other elected leaders in recognizing the importance of Prop 39,” said Tom Steyer, Campaign Co-Chair for Yes on Proposition 39. “The measure is an example of how democracy should work, allowing voters to take matters into their own hands and repeal a flawed and special-interest driven tax loophole enacted in a middle-of-the-night deal that has been costing California $1 billion every year.”

New “Stop the Corporate Fat Cats” Ad Airing in Final Days Before Election Day

LOS ANGELES, CA – The Yes on Proposition 39 campaign announced today that one of the state’s most respected civil rights leaders, Dolores Huerta, has endorsed the November 2012 ballot measure that will close a corporate tax loophole – bringing dollars and jobs back to California. Meanwhile, the campaign unveiled its new television ad for the waning days of the campaign.

“It is critical that all voters recognize the importance of Prop 39 and what it means for California families,” said Dolores Huerta, co-founder of the United Farm Workers with César Chavez and recipient of the Medal of Freedom for her lifetime of dedication to social justice and civil rights.  “I am proud to link arms with the campaign, this measure will create jobs and put money back into the General Fund, helping to to ensure our state’s education, health and human services and other vital interests for our most vulnerable populations are protected.”

Proposition 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.
“Ms. Huerta has dedicated her life to fighting for a better California and we are honored to have earned her support for Prop 39,” said Tom Steyer, Campaign-Co-Chair for Yes on Prop 39.  “This measure will level the playing field for California businesses and create tens of thousands of jobs.  We sincerely appreciate the support of Ms. Huerta as we work to educate voters on the benefits of Prop 39.”

Assemblymember Henry T. Perea, Fresno-Area Labor, Public Health & Clean Air Leaders Stand in Support of Proposition 39 Measure will create jobs, help to improve air quality for Central Valley

Measure will provide funding for vital state social and education services

SACRAMENTO- The Yes on Prop 39 campaign announced today that a number of influential senior citizen organizations have endorsed the November 2012 ballot measure that will close a corporate tax loophole and bring dollars and jobs back to California.

“Allowing out-of-state corporations a direct competitive advantage over California-based businesses is bad state policy and bad for all Californians, especially seniors whose essential programs often see the brunt of state budget cuts,” said Clare Smith Co-President of Older Women’s League of California (OWL-CA).  “Prop 39 is a critical step in restoring our state’s budget, creating fairness in our tax system and protecting our state’s seniors.”

Senior organizations endorsing Prop 39 include:

•    California Alliance for Retired Americans (CARA)
•    Older Women’s League of California
•    Berkeley-East Bay Gray Panthers
•    Gray Panthers of Long Beach
•    Gray Panthers of San Francisco
•    Gray Panthers Southern Alameda County
•    Senior & Disability Action

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.

“The California Alliance for Retired Americans has long supported mandatory single sales factor, which will not only make our state laws more fair, but bring added revenue to the State – revenue needed to protect the programs and services so essential to seniors, people with disabilities and working families,” said Nan Brasmer, President of CARA.

Measure would level the playing field for California businesses; bring jobs and revenue back to the state

SACRAMENTO, CA – The Yes on Prop 39 campaign announced today that an influential group of business organizations has endorsed the November 2012 ballot measure that will close a corporate tax loophole – bringing revenue and jobs back to California.

“The Silicon Valley Leadership Group supports Proposition 39 because we believe it encourages job creation in California, provides revenue to our state and enacts a fair tax policy that is consistent with competitor states across the country,” said Carl Guardino, President and CEO of the Leadership Group, which has more than 375-member companies. “With 2.1 million unemployed Californians, Proposition 39 also invests in immediate job growth in renewable energy and energy efficiency projects throughout our state.”

Major business groups endorsing Prop 39 include: San Francisco Chamber of Commerce, Silicon Valley Leadership Group, Valley Industry and Commerce Association, Latin Business Association, Los Angeles Business Council, Chinese Chamber of Commerce of Los Angeles, U.S. Green Chamber of Commerce, Sierra Business Council and others.

Tom Steyer Urges Voters to Approve Prop. 39 in New Online Message

SACRAMENTO – Yes on Proposition 39 Chairman and California businessman Tom Steyer is delivering a message directly to voters, urging them in a new online video to close a corporate tax loophole that is costing California $1 billion a year and tens of thousands of jobs.

Steyer highlights the importance of closing a tax loophole that now rewards companies for creating jobs outside of California. “California continues to struggle. We need real reforms to help bring our state back,” Steyer says in the 60-second video.

“Corporate lobbyists have stopped every attempt to close this loophole. But now voters can close it by voting yes on 39,” Steyer says. “Under 39, out-of-state corporations that make huge profits here will pay their fair share, bringing $1 billion back to California. And by repealing the loophole, 39 will bring thousands of jobs back to our state. Help start a California comeback.”

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.