GARDENA, CA - Furniture manufacturer Cambridge of California helped defeat California Proposition 24, an effort to curtail tax breaks for businesses in the state. It was roundly defeated, with more than 4.1 million (58%) of ballots cast against the measure in the Nov. 2 election. Ben Nielsen, owner of the 20-employee furniture firm in Gardena, CA, spoke against the measure, telling a Fox News reporter stationed at his plant that he would consider closing his business if the proposition passed.
According to the Ballotpedia website, the goal of Proposition 24 was to stop several corporate tax breaks that were slated to go into effect in 2010 and 2012. It would have prevented eligible corporations from receiving about $1.3 billion in tax breaks per year.
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