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Tuesday, July 10, 2012
California Senate Passes Two-Year Tax Credit Extension
Backstage: Lawmakers changed key pieces of the legislation extending the California Film & Television Tax Credit Program when it passed through a Senate committee Thursday.
As a Californian, I can say that this is exactly the kind of expenditure that the state does not need right now. The dubious benefits and financial return of this program combined with the serious financial woes of our state does not put us in a position to endorse this kind of legislation. As the article mentions, it would seem that there is no rationale as to why those in film and TV receive tax credit over employees in other industries. The "coalition of interest groups" supporting this bill are out for the personal interests of their employees and members, not the overall repair of California's economy. I certainly wouldn't mind this piece of legislation getting rejected.
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As a Californian, I can say that this is exactly the kind of expenditure that the state does not need right now. The dubious benefits and financial return of this program combined with the serious financial woes of our state does not put us in a position to endorse this kind of legislation. As the article mentions, it would seem that there is no rationale as to why those in film and TV receive tax credit over employees in other industries.
The "coalition of interest groups" supporting this bill are out for the personal interests of their employees and members, not the overall repair of California's economy. I certainly wouldn't mind this piece of legislation getting rejected.
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