Silicon Valley Central Chamber of Commerce submits independent study to City of Santa Clara

Generated by William Jessup University, the study is an analysis of the proposed increase of the Employee Business Tax
By: Silicon Valley Central Chamber of Commerce
 
SANTA CLARA, Calif. - July 16, 2022 - PRLog -- This week, the Santa Clara-based Silicon Valley Central Chamber of Commerce (SVC Chamber) submitted an independent study by William Jessup University analyzing the proposed increase of the Employee Business Tax in the City of Santa Clara to the city council. The study, sponsored by the SVC Chamber, found that adding additional taxes on businesses is not an equitable solution. It also finds that an updated tax on employees could lead to a price increase to consumers and a loss in sales tax revenue for Santa Clara as businesses send workers to other cities to avoid the tax increase.

"This study is third party validation that the proposed head tax will hurt economic development and negatively impact Santa Clara's reputation for being a business-friendly city," said head of the Santa Clara Business Council Christian Pellecchia. "We hope that members of the city council will take time to review this new information as an integral part of the decision-making process. It is vital to the businesses of Santa Clara that we find the right way to achieve a structurally balanced budget."

The SVC Chamber previously sent a letter to the city stating its stance that the current proposal is harmful to local businesses and the City of Santa Clara. Chamber representatives also noted a head tax would be difficult to administer and monitor, especially now, when many companies allow employees to work remotely.

About Silicon Valley Central Chamber of Commerce
For over seventy years, the chamber has served the Silicon Valley business community as influential advocates by supporting, connecting, and educating for the growth and sustainability of its business members. Located in Santa Clara, the Silicon Valley Central Chamber of Commerce is made up of a group of visionary business leaders that will help grow and shape the future of Silicon Valley.

Media Contact
Diandra Weldon | NINICO Communications
diandra@ninico.com
End
Email:***@ninico.com
Tags:Silicon Valley Chamber
Industry:Business
Location:Santa Clara - California - United States
Subject:Surveys
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
NINICO Communications® PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share