San Diego economic development group endorses Prop. D

By City News Service

The San Diego Regional Economic Development Corp. board voted Wednesday to endorse a measure on the Nov. 2 ballot that would raise the sales tax in the city by a half-cent.

However, the EDC said it would work to repeal Proposition D if the city does not implement the recommendations made by an 11-member Citizens’ Fiscal Sustainability Task Force.

The City Council voted last week to adopt the task force’s recommendations to seek $73 million in spending reductions from the city, freeze new spending at $20 million annually and dedicate any surplus to reserves or infrastructure.

“San Diegans owe the Citizens’ Fiscal Sustainability Task Force a great debt of gratitude for the hundreds of hours of work that, for the first time, laid out a plan that can restore the city’s health,” said Debra Reed, chair of the EDC board.

In its report, the task force said a sales tax increase, coupled with financial reforms, are both needed to overcome projected ongoing budget shortfalls in San Diego.

Proposition D would raise the sales tax in San Diego by a half-cent over the next five years — if 10 budget and pension reforms are met first. It would generate about $103 million a year.

Last week, the San Diego Regional Chamber of Commerce voted to endorse Proposition D.

Related posts:

  1. City agrees to adopt fiscal reform recommendations
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  5. One killed, four injured in light plane crash in Tierrasanta

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Posted by Halie Johnson on Oct 13, 2010. Filed under News, Region. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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