New look to cut business taxes

Hoping to reverse the city's image as unfriendly to business, the City Council on Wednesday created a new committee to look at ways to streamline and reduce the city's business taxes. Daily News

The nine-member Business Tax Advisory Committee, to be appointed by the mayor and City Council, will look at new reductions and consolidations of the business tax similar to past efforts that resulted in bringing in more revenue to the city.

"When we first looked at this, I thought it was a bad idea," Council President Eric Garcetti said. "I thought we needed the business tax to bring in revenue."