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Villaraigosa Admits Los Angeles Not Business Friendly – Proposes Tax Cut

From the Los Angeles Business Journal:

In a bid to repair the city’s image as a place unfriendly to business, Los Angeles Mayor Antonio Villaraigosa is calling on the City Council to enact a 10 percent cut in the city business tax rates as part of a reform effort.

The reform program would also include raising tax exemption thresholds for small and startup businesses.

“For macro-economic reasons beyond our control, the business climate has gotten significantly worse,” Villaraigosa said in a July 27 letter to the Council that was released Wednesday. “Accordingly, I encourage the City Council to bring forward a new generation of business tax reforms, focused on the unique problems we face today and building upon the reforms undertaken in 2004.”

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