Democrats Gain Supermajority in Both Legislative Houses
The Sacramento Bee is reporting that the Democrats have gained a two thirds majority in both legislative houses. Consequently, they can raise taxes without any Republican opposition. What this means for the EZs is yet to be seen. There are some bright spots. First, many Democratic legislators have EZs in their districts and they have come out in favor of continuing the program. Second, given that Prop 30 passed, it is yet to be seen how aggressively the democrats will pursue further tax hikes, particularly employment related credits, in a still sensitive economy. Stay tuned….
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