L.A. officials moved closer to lowering the business tax on gross receipts Monday when City Council’s budget committee approved Mayor Eric Garcetti’s proposed reduction. The measure, which would lower the rate in 2016 to $4.75 for each $1,000 of gross receipts from the current $5.07, was sent to the full council for a vote, the Los Angeles Times reports. Read more about the battle over the gross receipts tax in the Los Angeles Business Journal.