Valley VOTE Press Release
Valley Voters Organized Toward Empowerment
14622 Ventura Blvd. #424, Sherman Oaks, CA. 91403
August 16, 2005 Contact: Joe Vitti -President 2005
Email: javittisr@cs.com (818) 366-1668

The Valley VOTE Board of Directors has voted overwhelmingly to support the following resolution:

Proposed Resolution Regarding Implementation
of Los Angeles' Revised Business Tax Plan

WHEREAS, the City Council adopted a plan in December 2004 for a significant reform in the structure of the City's business tax;

WHEREAS, the plan for Business Tax Reform, when implemented, is expected to reduce the tax burden on businesses operating in Los Angeles;

WHEREAS, several key elements in the proposed Business Tax Reform plan, some of which were included in Valley VOTE's November 2003 White Paper, have not yet been enacted despite the aforementioned approval by the City Council,

THEREFORE, BE IT RESOLVED, that Valley VOTE - a member of the coalition known as "Citizens for Business Tax Reform Now!" - encourages the City Council immediately to order the drafting of ordinances necessary and sufficient to enact all of the elements of the Business Tax Reform Plan, beginning with the "pass-through" element and the "tax category consolidation" portions of the proposed Business Tax Reform plan.

Valley VOTE recognizes that these elements of the Business Tax Reform may initially reduce the City's tax receipts. The current upswing in the local economy, however, together with increased compliance with the City's Business tax rules and regulations should generate sufficient new tax receipts to offset any initial losses. Therefore, it is critically important to the success of the City's Business Tax Reform plan that these two key elements be enacted as soon as possible.



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