Governor and economic adviser should push both private and public investment for growthPosted by Greg Hines, Legislative Director, Tax & Corporate Counsel on July 9, 2007
Governor's guide to the private sector", David Crane -- the Governor's Jobs and Economy adviser -- wants private investment to help pay for roads, railways and other infrastructure. Manufacturers also need capital investment to build the products of the 21st century, but don't have the luxury of looking for public investments. Instead, manufacturers depend on fair tax policies, regulations, a skilled workforce and a good business climate. Crane acknowledged his support for pro business policies such as "tax credits for buying equipment". An example of how California manufacturers are disadvantaged in this regard is the expiration of the manufacturing investment tax credit in 2004. We are now one of only three states that taxes manufacturing equipment. Crane and Gov. Schwarzenegger should work for a sales tax exemption on the purchase of manufacturing equipment (AB 1152 -- Roger Niello) to level the playing field, grow manufacturing, and keep more than 1.5 million workers employed.
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