California Budget eliminates tax break for manufacturers

The San Francisco Chronicle ^ | Wednesday, July 30, 2003 | GARY GENTILE, AP Business Writer

[Willie Green]

The elimination of a tax credit for manufacturers in the new state budget removes one more incentive for business to remain in California, according to companies and trade groups that had wanted the credit extended.

The manufacturers' investment tax credit, first established in 1993, allows qualified companies to deduct as much as 6 percent of the cost of buying new equipment or upgrading existing facilities from their taxes. It is set to expire in January.

[Willie Green]

ping

[Chewbacca]

No tax break for manufacturers?

There goes any incentive for a company to stay in California and continue funding their socialist spending policies.

[goldstategop]

You can say one thing about our politicians: they charge their credit card again and then proceed to kill the goose that lays the financial eggs that would let pay off their charge account and they congratulate themselves on their own stupidity.

[warchild9]

Someone has to pay for the facelifts for tens of thousands of homosexual illegal Mexican whatevers...

[Onelifetogive]

This makes great sense...manufacturers are such a drain on any state's economy. Need to run those guys off. That should solve the state's budget problems...

[goldstategop]

Just tax their overseas investments and all will be dandy...

[Pikamax]

We would like to take California for not eliminating the tax credit as we feel that companies should pay their fair share towards the well-being of the public at large.


Signed
New Mexico and Arizona Chambers of Commerce/Business welcoming organization.

[A Navy Vet]

Idiots! I'm surrounded by idiots!

[Jay D. Dyson]

Of course, the resulting business closures and job losses will be blamed on the Bush Administration, no doubt...

[Muleteam1]

My brother and his partner moved their multi-million dollar business out of California in the 1980s. The state's anti-business stance is only being continued by Graying Davis, not initiated.

Muleteam1

[Ernest_at_the_Beach]

Thanks for the ping!

calgov2002:

calgov2002: for old calgov2002 articles. 

calgov2002: for new calgov2002 articles. 

Other Bump Lists at: Free Republic Bump List Register

[Extremely Extreme Extremist]

What business will be sane enough to remain in the Golden State? The only business that'll be left in CA is the porn industry.

[Vesuvian]

They just keep banging the nails into the coffin, don't they?

[Canticle_of_Deborah]

At this point Gray Davis is either purposefully trying to destroy California or he has gone insane. There is no way he can think this move is good for the state.

[Digger]

As usual the "Two-Party Cartel" had some of its so-called conservatives bite the bullet & go, as ALWAYS, with the liberal alternative of spend spend spend. I would like to see a recall of everyone who voted this in. It's so clear that no way will this ever change because no way will voters kick this cartel out & vote other parties in. EVERY single time the SAME results & every election you show you approval by keeping them in office.

[ServesURight]

Great post as always, Willie.

[kellynla]

DUMP DAVIS! VOTE FOR TOM MCCLINTOCK! http://www.tommcclintock.com

[snopercod]

I actually heard Tom McClintock's name mentioned on cable news today. So far, he has been an "unperson" according to the elite media. Things are looking up.

[kellynla]

The east coast talking heads don't have a clue of what is going on in CA. You can hear McClintock every Monday am on KRLA 870AM. http://www.krla870.com DUMP DAVIS! VOTE 4 MCCLINTOCK! http://www.tommcclintock.com