Proposes returning $7.5 billion budget surplus directly to taxpayers
SACRAMENTO - Senator Ted Gaines (R-El Dorado) today announced legislation that will give the $7.5 billion budget surplus back to hard-working California families and businesses in the form of a refund check.
"While California taxpayers continue struggling to make ends meet, the Legislative Analyst's Office reported that the state is sitting on a budget surplus of an additional, unexpected $7.5 billion," said Senator Gaines. "The reason there is a surplus is because Legislative Democrats have continued to overtax Californians and it's time to send that money right back to taxpayer pocketbooks."
The legislation will take the state's $7.5 billion surplus and return it to the taxpayers. Every Californian who filed taxes for 2016 will get their share of that surplus back in a refund check from the government that could amount to hundred dollars per taxpayer.
"I know the legislature will be tempted to continue the tax-and-spend cycle by sinking every extra dollar into expanding an ever-growing list of government services and projects, like granting more rights to undocumented immigrants and funding the boondoggle that is High-Speed Rail.
"But we cannot continue to price families and small businesses out of the state, sending them to neighboring states where the tax burden is much lower. We can't keep fixed-income seniors teetering on the edge of poverty. That's why I'm carrying a bill to get every single tax filer a refund of the money they overpaid to the government. It's their money and it's our obligation to return it."
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Senator Ted Gaines represents the 1st Senate District, which includes all or parts of Alpine, El Dorado, Lassen, Modoc, Nevada, Placer, Plumas, Sacramento, Shasta, Sierra and Siskiyou counties.
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