Thursday, August 19, 2010

California Proposition 13: the first reports

California Proposition 13 property tax cut of 1978 and required two-thirds majority to raise state taxes, among other features. The first clip shows the situation shortly before the elections in June 1978. The second shows the legislative package for saving local governments, just before Prop 13 years to take effect. Later, when the economy was facing down in early 1980, was the state's ability to rescue actions undermined by continued pressure on tax revenues.

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