A proposed state budget overhaul reducing some income taxes in favor of a new tax on services failed to gain traction this year, but will be back on the table in 2016, the plan’s sponsor told the Orange County Taxpayers Association on Wednesday.
The author, influential state Sen. Bob Hertzberg, D-Van Nuys, shared the stage in Newport Beach with former Republican Assembly Speaker Curt Pringle. Both offered an analysis that the state’s current budget formula is based on a dysfunctional revenue scheme.
“A lot of us think everything is fragile now and we’ll be in trouble if we don’t address it,” said Hertzberg, chairman of the Senate Governance and Finance Committee. “What you end up getting (with the proposal) is a more stable revenue and end to volatility.”
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