| OCR Text |
Show • TAX REFORM CONTINUED TAX REFORM . . . . . (continued) The Investment Tax Credit *ITC) is a one-time, up-front credit currently available for machinery and equipment purchased for business use, and generally ·have created investment incentives which favor some industries over others and contribute to the grCl'#th of tax shelt.ers. • Both the Administration and the House bill eliminate ITC. A study of 238 profitable major corporations done by the Citizens for Tax Justice, reports that despite their nearly $90 billion in "tax incentives", the 238 corporations averaged a 15.5% reduction in new investment. According to the Treasury Department and the.Joint canmi.ttee on Taxation, the corporate share of the federal tax burden has decreased from 27.71 in 1950 to 6.2% in 1983. • In contrast individuals have paid ioore taxes, from 54.5% in 1950 to 82.9% in 1983. TRANSPORTATION STUDY CONSEWS The League of Women Voters of Salt Lake bel.ieves that the Wasatch Front will face serious traffic problems unless efforts are made to ease congestion along I-15. The League believs the magntitude of the problem should inspire officials to consider varied alternatives for financing transportation improvements, including but not limited to a gas tax, sales tax,·toll roads, increased vechicle registration fees and property tax, bonding and a county income tax. The League believes that while a sales tax may not be a popular funding mechanism, its historical association with transp:>rtation makes it a likely source to tap. If a sales tax is used to .raise trans{X)rtation fW'lds, the League would encourage levying it only in the counties served by the transi:ortation system. Hawever, the League strongly supp:,rts using state funds for a portion of improvements along the I-15 corridor because they would benefit the state. The League favors incorIX)rating a rail system into the I-15 transportation system. SAlT LAKE VOTER - 6 - APA ll t 966 |
