A proposed ballot measure in Los Angeles seeks to repeal the gross receipts tax, impacting various sectors such as healthcare and entertainment, and aiming to alleviate economic challenges faced by local businesses. Proponents argue that eliminating this tax would enhance job creation and affordability for residents. Concerns arise from city officials about the $800 million revenue loss from the tax, critical for funding public safety and essential services. The measure's backers believe it will counteract a hostile business climate and support the survival of small to medium-sized enterprises.
The proposed measure, called the "Los Angeles Cost of Living Relief Initiative," would strip away a tax imposed on a vast array of businesses, including healthcare, nightclubs, and delivery companies.
Backers of the initiative believe that repealing the Gross Receipts Tax will revitalize the city's economy, creating jobs and making living more affordable for all Angelenos.
City officials expressed concern over the proposed measure, noting that the city's business tax generates over $800 million annually for essential services like police and fire departments.
City Administrative Officer Matt Szabo emphasized, "Public safety is almost exclusively paid for by the general fund. This measure is an assault on public safety."
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