On July 1st, Californians will experience some relief when the car and sales taxes drop. The Legislature raised these taxes temporarily in February 2009 in an unsuccessful attempt to solve our budget problems. The one percent increase in the sales tax and the near-doubling of the car tax will disappear as scheduled.
Including the quarter-percent income tax cut that Californians enjoyed earlier this year, the typical family will save about $1,000 in taxes annually. This is an additional $1,000 that families like yours can spend as they choose, rather than surrendering it to Sacramento to spend on bigger government.
Families will also benefit from reinstituting the full Child and Dependent Care Expenses tax credit, which will rise from $99 per filer ($188 for joint filers) to roughly $309. This is more money for families to spend on their household budgets.
In addition to helping taxpayers, the expiration of the February 2009 tax increases will boost the economy and local small businesses in particular. More people buying things will lead to more jobs and taxes being paid, providing additional revenue to support important priorities like education and public safety - without higher taxes.
Source Assemblymember Kristin Olsen
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