Forgot Password? | Print Page | Sign In | Create User Profile
News & Press: Sacramento Report

$373.4 Billion a Year in Higher Taxes and Fees Proposed in 2017 Legislative Session

Tuesday, November 21, 2017  
Share |

The nonpartisan California Tax Foundation reported that in this year’s Legislative session various California state lawmakers proposed $373.4 billion in higher annual taxes and fees. California Tax Foundation Director Robert Gutierrez said. “To put this number in context, it is nearly $200 billion per year more than the total amount of taxes and fees currently collected by the state government.” The three proposals with the largest potential financial impact were for a single-payer healthcare system, a sales tax on services and a proposed constitutional amendment to raise $8.65 billion in taxes, including on groceries, snacks and candy. Thankfully, none of those tax and fee hikes became law. But as the title industry knows, a big increase in fees was the result of the passage of SB 2 that surcharges recording fees to fund affordable housing.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851