Sales Tax Measure to go on Bankrupt California City’s BallotJuly 10, 2013 – In The News
Michael Sweet was quoted in the Reuters article "Sales Tax Measure to go on Bankrupt California City’s Ballot." While the full text can be found in the July 10, 2013, issue of Reuters, a synopsis is noted below.
The city council for Stockton, California approved adding to the November ballot a measure that if approved would raise sales tax in the city to 9 percent, in an effort to help the city exit bankruptcy.
The tax measure can be included in Stockton’s plan to adjust its debt, which is the next hurdle the city faces in its attempts to restructure, said Michael Sweet.
“It sends a message to the intended audience that the city is working on a global approach,” Sweet said.