Poizner to meet with San Diego officials
Republican gubernatorial candidate Steve Poizner is scheduled to have a roundtable discussion with San Diego County officials Tuesday on his proposal for across-the-board tax cuts to stimulate California’s economy and reduce the state’s budget deficit.
Poizner, the state’s insurance commissioner, has proposed 10 percent cuts to the state’s personal income tax, the sales tax rate and corporate tax rate.
His campaign estimates that the cuts would result in increased economic activity and an inflation-adjusted 1.77 percent increase in state tax revenues the first year after they are enacted and a 4.94 percent increase the second year.
Poizner’s rival for the Republican gubernatorial nomination, former eBay Chief Executive Officer Meg Whitman, has also proposed cutting taxes to give businesses the incentive to invest, expand and hire more workers.
“Commissioner Poizner will have a hard time hiding behind his new found fiscal conservatism as more Californians learn about his past support for higher taxes and his refusal to curb spending at the Department of Insurance,” said Whitman campaign press secretary Sarah Pompei.