Economy

October 26, 2008 9:22 PM

Lagging car sales hurting California's city's budget

A double economic whammy of high gas prices and the current credit crunch has caused sales to drop at some of the central California coast'sauto dealerships and hurt cities that depend on the sales tax. San Luis Obispo, for example, saw a 10.4 percent decline in sales tax revenue from autos and transportation in the second quarter of this year, compared to the same period a year ago, according to HdL Companies, a sales tax consultant for city government.

Related content

Comments

Videos

More Videos

Obama lays a wreath at Hiroshima Peace Memorial Park 02:18

Obama lays a wreath at Hiroshima Peace Memorial Park

Democrats yell "shame" on the floor of the House of Representatives 02:00

Democrats yell "shame" on the floor of the House of Representatives

Is America sick of Hillary's emails? 01:25

Is America sick of Hillary's emails?

President Obama thanks military members in Hiroshima, Japan 07:43

President Obama thanks military members in Hiroshima, Japan

The Buzz with Buzz: Benghazi & Hillary's emails are history repeating itself 01:47

The Buzz with Buzz: Benghazi & Hillary's emails are history repeating itself

Visitors pay respects at Vietnam Veterans Memorial 01:15

Visitors pay respects at Vietnam Veterans Memorial

Here's how a presidential candidate can qualify for Secret Service protection 01:02

Here's how a presidential candidate can qualify for Secret Service protection

Share Video

Editor's Choice Videos