Word: surplus
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While denouncing taxes with reborn evangelical fervor, Brown has skillfully muted the effects of Proposition 13 by distributing an accumulated revenue surplus of $4 billion to communities deprived of property tax revenues. He also signed a bill in August cutting personal income taxes by $1 billion next year, a move that will save each taxpaying family an average of $150. For this behavior, Brown has not won the endorsement but certainly the blessing of the most popular figure in the state, Howard Jarvis, author of Proposition 13. Jarvis originally appeared in a TV ad praising Younger for successfully opposing...
...through the morning papers, stopping at a story that reported unemployment statistics down. Jabbing his finger at the item, he said, "Government is flattening out. The private sector is pushing forward." Noting that corporate profits in California are double the national average, he said he expects the 1979 state surplus to be as large as this year's. So despite all the grim forebodings, no sharp cutbacks in public spending are anticipated...
...Republican adversary, Congressman Ronald Sarasin, faults her for substantially increasing the state budget. But Grasso has produced a surplus for three successive years, and she has proposed sales and business tax cuts for the 1979 budget. Sarasin is leading a petition drive for a state-constitution ban on an income tax and a limit on spending. He says of the 50,000 people who have signed to date: "I see them as supporting the concept. I hope they support...
...Attorney General John Hill, whom he derides as a "claims lawyer and a career politician." When Hill accused Clements of resorting to "Nixon-style Watergate tricks," the Republican replied: "Hill seems a little sensitive to me." The main campaign issue is how to spend the state's $3 billion surplus; no matter which candidate wins, the taxpayers are sure to get some relief...
WISCONSIN. Fifteen months ago, when Governor Patrick Lucey was named Ambassador to Mexico, he bequeathed to his successor, Democrat Martin Schreiber, a healthy state economy and a budget surplus projected to total $500 million by next June. To soak up the spare cash, Schreiber, a colorless career politician, proposed cutting property taxes by a modest $110 million and increasing state spending on water purification, schools and debt reduction. But Schreiber, 39, has run afoul of Proposition 13 fever, which has been skillfully exploited by his Republican opponent, Lee Sherman Dreyfus...