Measure will bring badly needed funds back to California

SACRAMENTO -- The Yes on Proposition 39 campaign announced today that the California Nurses Association/National Nurses United (CNA) has endorsed Proposition 39, the November ballot measure that will close an unfair corporate tax loophole that has been costing California $1 billion annually.

“Prop. 39 will close a flawed corporate tax loophole and recover desperately needed revenues for the state’s General Fund - helping fund vital state social, health, family and child services,” said Malinda Markowitz, RN, co-president of the California Nurses Association.

The California Nurses Association represents more than 86,000 registered California nurses and regularly advocates for better healthcare measures that will ensure the continued health and well-being of Californians. CNA’s support for Prop. 39 demonstrates that the measure is in line with the association’s goals of bettering statewide healthcare, specifically through increased support of invaluable state programs necessary for California’s most at-risk populations.

“The California Nurses Association is an influential state group; this endorsement illustrates the public health benefits Prop. 39 will have for California,” said Tom Steyer, Campaign Co-Chairman for Yes on Proposition 39. “Prop. 39 will generate significant revenues for the state that can be used for programs that are crucial for California’s most vulnerable populations.”

Said Senator Kevin de León (D-Los Angeles), Campaign Co-Chairman for Yes on Prop. 39: “California’s social, health and family services should not be suffering in order to allow out-of-state companies to game our tax system with this glaring loophole. Prop. 39 is a long overdue solution that will generate an influx of dollars and jobs.”

Proposition 39 will add fairness back to California’s tax system by implementing a single sales factor for multistate companies operating in the state. This will eliminate the incentives out-of- state companies currently have to not employ many Californians or invest in property here, two factors that are keeping their taxes lower than their California counterparts.

For the first five years, Proposition 39 will dedicate half of the revenues recovered to job-creating energy efficiency and clean energy programs. These programs will include projects at schools and government buildings such as installing solar panels, upgrading old heating and cooling systems, swapping out old windows and installing other energy-saving technologies.

The other half of the revenues will go to our state’s general fund – helping to balance the budget and sending hundreds of millions of dollars to our public school system, social and health services, transportation and prisons. After five years, all revenue will go into the general fund, a permanent investment in our state’s future.

Proposition 39 is supported by a diverse coalition of groups and individuals, including the San Francisco Chamber of Commerce, California Pan-Ethnic Health Network, California Federation of Teachers, American Lung Association - California, CA National Organization for Women, California Alliance for Retired Americans, California Church IMPACT, Environmental Health Coalition, Latin Business Association, California Labor Federation, Council of Mexican American Federations (COFEM), CleanTECH San Diego, Los Angeles Times, Sacramento Bee, San Jose Mercury News, and the California League of Conservation Voters.

For more information on Proposition 39, please visit www.yesonprop39.com and follow us on twitter at www.twitter.com/yesonprop39 and on Facebook athttp://www.facebook.com/CleanEnergyJobsAct