Assembly committee OK's higher biz taxes

CALIFORNIA

“The Assembly's Democrat-dominated Revenue and Taxation Committee on Monday approved an array of higher taxes on business while blocking Republican-authored tax cuts. Assemblyman Anthony Portantino, D-La Cañada Flintridge, the committee chairman, said that if all the bills pending before the committee -- those raising taxes and those cutting them -- had been approved, they would mean a net "loss" [?] of $5.5 billion a year in state revenue.”

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