Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Brown Vows to Curb Tax Increases After Winning California Vote

California Governor Jerry Brown vowed to hold the line on additional tax increases as long as the legislature constrains new spending programs after voters in the state approved raising levies on sales and income.

“The stack of possible spending bills is killing us,” Brown said on CNN’s “State of the Union” program. “Legislative ideas are endless and we’ll have to cut at least some of them down.”

Proposition 30, which won voter approval Nov. 6, raises the state’s sales tax a quarter percentage point, to 7.5 percent, and increases rates on income starting at $250,000. The increases are designed to raise an estimated $6 billion annually, and expire by 2018.

The referendum marks an acknowledgment by Americans that state and federal budget deficits can’t be closed with spending cuts alone, Brown said. As part of a deal to avert deep cuts to defense and domestic programs, President Barack Obama has demanded that federal income tax rates on the wealthy be allowed to rise, a position he says was endorsed by his re-election victory last week.

Without “balance” between spending cuts and tax increases “you run the difficulty that the whole country breaks down for lack of common commitment,” Brown said today.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.