(PR) Citing Study HJTA Calls Upon Legislature to Loosen Death Grip on Small Businesses and Taxpayers
New study shows overregulation costs California small businesses nearly five times the General Fund
Sacramento — The Howard Jarvis Taxpayers Association responded today to a just-released study that shows the impact of state regulation on California’s small businesses is nearly a half trillion dollars annually and costs the state 3.8 million jobs.
"The cost of overregulation is absolutely stunning" said Jon Coupal President of the Howard Jarvis Taxpayers Association. "Just when you think state government has driven the economy off a cliff with massive tax increases you discover they’ve driven it off the cliff down the embankment and into the pond with these hidden costs."
The landmark first-of-its-kind study titled " The Cost of Regulations on California Small Business " evaluated the overbearing regulatory impact on small business and discovered that the cost to small businesses in California is more than $492 billion ÛÒ nearly five times the state’s General Fund budget.
But the impact isn’t only to small business. Residents of California are also adversely impacted. The overall cost of regulation to households in California is nearly $177 Billion which adds up to more than $13800 per household.
"Californians who are already being crushed under some of the highest direct taxes in the nation cannot afford what amounts to an additional half trillion dollars in hidden taxes. The legislature needs to take its foot off the neck of California’s productive sector" added Coupal.
The study was sponsored by the Small Business Administration and conducted by professors at California State University – Sacramento.
Read a copy of the study at: http://www.HJTA.org.