Don’t tax homeowners’ canceled debt

California should follow the lead of federal government and forgive the levy.

Gov. Arnold Schwarze-negger and legislative Democrats are in another one of their political spats, and this one could cost Californians caught up in the mortgage modification mess a huge tax bill if it doesn’t get resolved quickly.

It’s one more example of Sacramento politicians putting partisan bickering ahead of what’s good for the state’s residents.

Read more from the Merced Sun Star

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