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California's Record Surpluses Trigger Reduction in State Sales Tax.

San Jose Mercury News (San Jose, CA)

| October 26, 2000 | COPYRIGHT 2007 San Jose Mercury News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Hallye Jordan

Oct. 26--SACRAMENTO, Calif.--California's booming economy will trigger a one-quarter percent cut in the state sales tax that will save middle-income households roughly $40 next year.

The $1.1 billion, one-year tax rollback will mark the fourth -- and largest -- sales tax reduction in state history, Gov. Gray Davis said. It was triggered by two straight years of record surpluses.

Davis said the tax cut, which will go into effect Jan. 1, represents "a substantial effort to share with the taxpayers of this state the great bounty they have provided us."

The cut was forced by a 1991 law that requires the sales tax to be reduced by one-quarter of a…

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