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California Chooses Tax Base over National Parks

California Chooses Tax Base over National Parks

SACRAMENTO -- Despite an offer to pay states back, Governor Jerry Brown won't spend California's money on National Park services.

California's Deputy Director of Finance H.D. Palmer says right now, the tax base is more important than open space.

"Just 1 percent of the personal income tax returns that were filed, were responsible for more than 41 percent of the personal income tax," Palmer said.

Tax season is coming up,  but there's no end to the shutdown in sight.

"If in fact the debt ceiling is not raised next week, there is widespread expectation that there could be a very severe market reaction," he said.

That's bad news for the one percent that makes up 41 percent of California's income tax revenue.

"A very significant amount of that income comes from things like capital gains and stock options," Palmer said.

Instead of rolling the dice on congress, California is playing it safe.

Governors in at least four states have asked for authority to reopen national parks within their borders because of the economic impacts caused by the park closures.



Read more here: http://www.sacbee.com/2013/10/10/5810636/apnewsbreak-feds-to-let-states.html#storylink=cpy



 

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