Parks - LA City $300 Million Deficit by June 30, 2005
In an alarming wake-up call Los Angeles City Councilman Bernard Parks, chair of the Council Budget Committee, predicted that unless all spending is brought under control only an increase in taxes will prevent a $300 million budget shortfall by June 30, 2005.
Los Angeles, CA (PRWEB) September 5, 2004 -- In an alarming wake-up call Los Angeles City Councilman Bernard Parks, chair of the Council Budget Committee, predicted that unless all spending is brought under control only an increase in taxes will prevent a $300 million budget shortfall by June 30, 2005. Commenting on part-two of an interview with Emmy Award winning Full Disclosure host Leslie Dutton. Parks said that if spending continues at the current rate, revenue increases from sales tax, business tax and property taxes will be necessary.
Parks also noted the recent Council vote banning big retail developments is sending the wrong message, that big retail businesses should take their sales tax out of town. He also acknowledged the Council vote was influenced by labor unions who opposed non-union businesses. He said that the union influence often results in a vote, contrary to the better interest of the city.
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