Villaraigosa Appeals For Structural Reform Of State/Local Fiscal Relationship

April 29, 2003

Metro Investment Report

In the last decade, many decision makers and commentators have noted the significant impact Proposition 13 has had on California's fiscal affairs, both at the state and local level. In 1999, Assembly Speaker Emeritus Antonio Villaraigosa convened his Speaker's Commission on State & Local Government Finance, which clearly outlined the misalignment of state revenues and expenditures and what incentive structure that created for state and local policy. The current budget crisis prompted Governor Davis to convene the Commission on Tax Policy in the New Economy to look again at structural reform of the state's tax system. MIR is pleased to present Antonio Villaraigosa's testimony from a hearing of this commission earlier this month.

Link: State Budget Crisis Candidly Examined By State\'s Budget Director Steve Peace (Complete Article)