Measure Will Improve California’s Economy, Public Services and Environment
SACRAMENTO – The Yes on Proposition 39 campaign announced today that California Democratic Party Chairman, John Burton, has endorsed Proposition 39, the November 2012 ballot measure that will close a corporate tax loophole, bringing dollars and jobs back to California.
“This out-of-state corporate tax loophole costs California more than $1 billion every year. By closing this loophole California has a chance to not only improve our economy but our environment as well,” Burton said. “I urge all Californians to say ‘yes’ to clean energy, job creation, public safety, education, and health and human services by voting ‘yes’ on Proposition 39.”
John Burton is considered one of California’s most effective and experienced legislative and political leaders. A consistent backer of environmental, labor and human rights legislation, Burton further demonstrates his commitment to bettering the lives of Californians by supporting Proposition 39, which will support California-based businesses and provide significant new revenues to the state’s General Fund.
“John Burton has consistently fought for a better California and we are grateful to have earned his support for Prop 39. The measure will return more than $1 billion to California every year, revenues that will be used to boost the clean energy jobs sector and fund important state General Fund programs, including education, and social and health services for seniors, children and the disabled,” said Tom Steyer, Campaign Co-Chair for Yes on Prop 39.
“Prop 39 will close a loophole that gives out-of-state corporations an unfair advantage over companies that invest and locate here in California,” said Senator Kevin de León (D-Sacramento), Campaign Co-Chair for Yes on Prop 39. “This measure will level the playing field for California businesses and generate tens of thousands of jobs. We greatly appreciate the support of John Burton as we work to educate voters on the benefits of Prop 39.”
Proposition 39 will add fairness back to California’s tax system by implementing a single sales factor for multistate companies operating in the state. This will eliminate the incentives out-of-state companies currently have to not employ many Californians or invest in property here, two factors that are keeping their taxes lower than their California-based counterparts.
For the first five years, Proposition 39 will dedicate half of the revenues recovered to job-creating energy efficiency and clean energy programs. These programs will include projects at schools and government buildings such as installing solar panels, upgrading old heating and cooling systems, swapping out old windows and installing other energy-saving technologies.
The other half of the revenues will go to our state’s general fund – helping to balance the budget and sending hundreds of millions of dollars to our public school system, social and health services, transportation and prisons. After five years, all of the revenues will go into the general fund, a permanent investment in our state’s future.
Prop 39 is supported by a diverse coalition of groups and individuals, including the San Francisco Chamber of Commerce, California Nurses Association, American Lung Association - California, CA NOW, California Alliance for Retired Americans, California Church IMPACT, Latin Business Association, California Labor Federation, CleanTECH San Diego, Los Angeles/Orange Counties Building & Construction Trades Council, Sacramento Bee, San Jose Mercury News, Los Angeles Business Council, California Community College Trustees, and the California League of Conservation Voters.
For more information on Proposition 39, please visit www.yesonprop39.com and follow us on twitter at www.twitter.com/yesonprop39 and on Facebook at http://www.facebook.com/CleanEnergyJobsAct