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Governor Brown Rolls Out Jobs Plan

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(Sacramento, CA)
Thursday, August 25, 2011

Brown's plan would expand a tax credit for small businesses that hire new employees.  It would also give companies a sales tax break on the purchase of manufacturing equipment.  But the centerpiece is something he's tried unsuccessfully to win Republican support for in the past: He wants to require all businesses - in-state or out-of-state - to base corporate tax payments on their sales in California.  

Governor Brown "But I'm going to ask the republicans this time to join with me, join with the business community in freeing up money that is encouraging job flight and making it available for job growth."

Currently companies can choose a different tax formula that allows some to pay less tax.  Brown says the change would generate one billion dollars a year, which would fund the other tax breaks.  GOP Assembly Leader Connie Conway calls the Governor's plan "too little, too late."  She says it's not necessary to increase taxes to provide business tax breaks. 
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