Chrysler States it Will Not Oppose Proposition 39

SACRAMENTO, Calif., Sept. 19, 2012 /PRNewswire/ -- Today, the Yes on Prop 39 campaign was informed by Chrysler that the company will not oppose efforts in California to close the out-of-state corporate tax loophole that is putting California companies at a competitive disadvantage and costing the state $1 billion in revenues and tens of thousands of jobs. This is the first time the company has officially stated it will not oppose Proposition 39.  Last month, Procter & Gamble also stated that it would not oppose Proposition 39.

The Yes on 39 campaign said in a statement, "We are very glad to hear that Chrysler has joined Procter & Gamble in respecting the taxpayers, employees and businesses of California by deciding not to oppose Prop 39.  The bottom line is that everyone in California wins from leveling the playing field for California businesses -- tens of thousands of jobs would be created, and the state's budget would benefit from $1 billion in revenues.  We appreciate Chrysler's commitment to California, recognizing that since restructuring in 2009, the company has opened a new business center and a satellite design center in our state, as well as added 25 new dealerships. Today, we once again call on General Motors, Kimberly-Clark and International Paper to stand up for California and join Procter & Gamble and Chrysler by dropping their opposition to Prop 39."

In response to Chrysler's decision not to oppose Proposition 39, the campaign will begin removing the company from campaign advertisements. 

Prop 39 is the ballot initiative that would close the out-of-state corporate tax loophole in California that currently gives out-of-state companies tax breaks for creating jobs in other states.  Prop 39 would close the tax loophole and put California-based companies on a level playing field, saving a billion dollars of taxpayer funds that will be used to fund schools and create tens of thousands of jobs.

For more information on Proposition 39, please visit www.yesonprop39.com.  Follow the campaign on twitter at www.twitter.com/yesonprop39 and http://www.facebook.com/FairisFairTaxation.

SOURCE Yes on Proposition 39