Recently, the Chamber was asked by our partners at CalChamber to weigh in on the proposed tax changes put forward by the House Republicans.  In keeping with our commitment to be the voice of our members on policy issues, we asked our members for input to shape our response.   Even with a very quick turnaround, we were pleased with the responses we received and appreciate those members who took time to share thoughtful and relevant insights on this issue.

In order to be transparent and to close the loop with those of you who responded, we wanted to share with you the response sent to CalChamber, which was as follows:

“The Santa Maria Valley Chamber polled its members to identify whether there was any consensus around the House Republican proposed tax modifications.    The short answer is no … 32% indicated they strongly or generally supported the proposals, while 43% reported general or strong disapproval.   Perhaps not surprisingly at this point, a full 1/4 of the respondents felt they didn’t have enough information to take a side.

Among our members, the proposals that seemed to generate the most support were the reduction in the corporate tax rates, followed by a general sense that any reduction in taxes was welcomed.

Concerns expressed most often by our respondents centered around the impact on CA taxpayer specifically (loss of state tax deductions), followed by concerns over the impacts that loss of mortgage deductions and property tax could have on the housing and development markets.   We also received several comments expressing a desire for more elements specifically targeted small business.

Perhaps coupled with the high number of “undecideds,” we had a fair number of responses concerned about the perceived disproportionality of the impacts of the cuts (e.g. too much for the wealthy).

 Santa Maria Valley Chamber  polled its members to identify whether there was any consensus around the House Republican proposed tax modifications.    The short answer is no … 32% indicated they strongly or generally supported the proposals, while 43% reported general or strong disapproval.   Perhaps not surprisingly at this point, a full 1/4 of the respondents felt they didn’t have enough information to take a side.

Among our members, the proposals that seemed to generate the most support were the reduction in the corporate tax rates, followed by a general sense that any reduction in taxes was welcomed.

Concerns expressed most often by our respondents centered around the impact on CA taxpayer specifically (loss of state tax deductions), followed by concerns over the impacts that loss of mortgage deductions and property tax could have on the housing and development markets.   We also received several comments expressing a desire for more elements specifically targeted small business.

Perhaps coupled with the high number of “undecideds,” we had a fair number of responses concerned about the perceived disproportionality of the impacts of the cuts (e.g. too much for the wealthy).”

Since we conducted the poll, the Senate Republicans have issued their proposed changes to the tax code, which differ in many respects to those put forward by the House.   It appears that this issue will be moving through Congress quickly and will, without doubt, undergo additional changes and edits as it works through the system.     We encourage members to stay up-to-date on this issue and to continue sharing with the Chamber any insights you believe would be helpful for us as we have chances to engage with elected leaders.

If and when a final bill is passed and signed into law, the Chamber will work to share as much information as we can get about how the changes will impact our members.

Thanks again for being engaged and responding when we needed your input!

Glenn Morris
President & CEO