Proposition 24 would change tax laws for businesses

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Supporters say it would end tax breaks for big corporations. Opponents say it would hurt small businesses struggling to survive.

Proposition 24 would repeal tax laws passed in 2008 and 2009. Those bills made it easier for business to deduct losses and share tax credits.

Scott MacDonald, the spokesman for Stop Prop 24, said those changes were designed to help small businesses weather times like these.

"We all know that this recession has hurt a lot of people," he said. "The last thing we need to do is burden the state's small businesses and multi-state companies and others by passing Prop 24."

That is not how Gregg Solkovits sees it. He is with United Teachers Los Angeles, which supports Proposition 24.

Solkovits said with California's budget problems, the state can no longer afford to give tax breaks.

"A vote to repeal those tax breaks is a piece to solving California's perennial budget problems," he said. "We have a revenue problem because we continue to give the wealthy and large corporations tax breaks."

A poll taken last week showed voters tied, with a third still undecided.