California Retailers Association President and CEO Rachel Michelin participated in a virtual assessment of Proposition 15 hosted by the Public Policy Institute of California. The public forum included arguments for and against the initiative, which will appear on the November ballot and, if passed, would change tax assessment of commercial and industrial property, resulting in a “split roll” property tax.
David Goldberg of the California Teachers Association presented arguments for the largest tax increase in California’s history.
Rachel: “Proposition 15 is a significant tax hike on all Californians, increasing costs for their everyday consumer needs. CA leads the nation in poverty and unemployment rates. Businesses are leaving the state. Thousands have closed or will close and a majority are not coming back. Our economy will only recover by supporting business of all sizes, especially smaller business owners who have maxed out their credit cards and dipped into their 401ks to survive during this pandemic. Voters should carefully read all of the details of this initiative and make an educated decision in November.”