CalTax Statement on Signing of SB 113 to Encourage Economic Growth

For Immediate Release, February 9, 2022
Contact: David Kline (916) 893-2614 or
[email protected]

California Taxpayers Association President Robert Gutierrez released the following statement on Governor Gavin Newsom’s signing of SB 113 (Senate Budget and Fiscal Review Committee):

“This legislation improves California’s competitiveness for jobs and investments, which is critically important. To keep the economy strong, we need to keep jobs and innovation here in California, where they belong.

“When the state reduced the impact of the tax credit that encourages research and development in California, and limited the ability of entrepreneurs to receive some tax relief when they experience net operating losses, it became more difficult for our home-state businesses to compete with lower-cost states. Today’s action is a step in the right direction and will foster economic growth – the best source of revenue to support state and local government.”