The Los Angeles City Council voted 10-2 to extend a policy that exempts new businesses from paying a gross receipts tax for their first three years of operation. Councilman Paul Krekorian, chair of Budget and Finance, voted against the extension, saying there needs to be more study of the economic impact.
New businesses will continue to get a tax break from the City of Los Angeles.
The City Council on Tuesday voted to extend its policy of exempting new businesses from paying a gross receipts tax for their first three years of operation. The exemption will apply to businesses that begin operating before the end of 2015.
In an effort to attract new businesses to Los Angeles, the City Council agreed three years ago to waive the tax through 2012, without a cap on how much a company earns. Prior to that ordinance, it was the city’s policy to waive the gross receipts tax for two years for companies making less than $500,000.
Councilman Mitch Englander said the extension is a step toward eliminating the gross receipts tax, which generates more than $400 million a year for the city. The tax is frequently cited as a sign that Los Angeles is not business-friendly. The theory is that, by eliminating the tax, more new businesses will flock here.
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Slate examines the city of Los Angeles' growing public transportation system.
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Today is Tuesday, Sept. 18, and here is what's happening in Los Angeles:
Slate looks at public transportation in Los Angeles. "It’s chosen instead to embrace the goal of growing even greater, which will necessarily mean denser and less auto-focused. While the Bay Area and many Northeastern cities stagnate under the weight of oppressive zoning codes, L.A. is changing—by design—into something even bigger and better than it already is," according to the piece.
Medical marijuana advocates collected enough valid signatures to qualify a referendum on the city's pot shop ban, reports KPCC. The L.A. City Council will take up the issue in the next 20 days.
Anibal Ortiz / KPCC
Republican presidential candidate Mitt Romney speaks at the U.S. Hispanic Chamber of Commerce’s 33rd annual national convention at the JW Marriott Hotel in Los Angeles.
Seeking to gain traction with Latino voters, Republican presidential candidate Mitt Romney traveled to Los Angeles Monday to deliver his pitch to the annual meeting of the U.S. Hispanic Chamber of Commerce.
“I’m convinced the Republican Party is the rightful home for Hispanic Americans,” Romney told more than 1,000 people during a noontime lunch at the J.W. Marriott Hotel in downtown L.A.
The GOP may be Latinos’ “rightful home,” but an NBC News-Wall Street Journal-Telemundo poll last month found them still preferring Democrats. The survey found President Obama leads Romney 63 to 28 percent among Latinos.
Romney sought to close that gap by touting his commitment to lower taxes and fewer regulations. He told the group of business leaders that Latinos have more reason than most to dump Obama: “While national unemployment is at 8.1 percent, Hispanic unemployment is at over ten percent.”
A screenshot of the "Yes We Camera" app for iPhone. The app is just one of many to choose from this election year.
Tired of Angry Birds? Looking for a smartphone app that’s more – well, political?
Type in “election” into your smartphone app search and you’ll find plenty of helpful sites… and several fun ones. Here are a few of our faves:
1. The “Yes We Camera” app turns any photo taken with your iPhone camera or synced with your photo gallery into the Obama-style campaign poster created by Shepard Fairey. It’s free. (iPhone, free)
2. Republicans may like the free “Obama Clock” app. It ticks down the remainder of Barack Obama’s term in office. It also keeps track of the national debt, the housing index, and gas prices to give you talking points to argue with your Democratic friends and relations. (Android & iPhone, free)
Kevin Winter/Getty Images
Former Gov. Arnold Schwarzenegger is merging his political and Hollywood lives for the USC Schwarzenegger Institute's first symposium.
The USC Schwarzenegger Institute's inaugural symposium will kick off on Sept. 24 with an all-star line up of politicians, journalists and Hollywood bigwigs to talk about leadership and innovation.
It was announced last month that former Gov. Arnold Schwarzenegger would head up a new think tank at USC’s Sol Price School of Public Policy. The institute is dedicated to finding bipartisan solutions to education, energy and the environment, fiscal and economic policy, health and human wellness, and political reform. (KPCC’s AirTalk reported on the think tank when it was first announced.)
The symposium lineup includes two panels and a lunch discussion. ABC News’ Cokie Roberts will moderate the morning discussion on post-partisanship, with:
- Former Florida Gov. Charlie Crist
- Former U.S. Senate Majority Leader Tom Daschle
- Sen. John McCain, R-AZ
- Former New Mexico Gov. Bill Richardson
- Former Pennsylvania Gov. Tom Ridge