New Taxes and Regulations Weaken Economic Recovery

by Maria S. Salinas

The November ballot has several propositions that tout the need for increased taxes which is disconcerting given the current pandemic and stalled economy. Of most concern is Proposition 15, which is a proposal for the largest property tax increase in California history. Implementing tax policy at the ballot box is dangerous. Without mandatory checks and balances, it can be one sided, without accountability and result in unintended consequences. Besides, we elect public officials to do the work of tackling hard issues like budgetary needs.

Given the health crisis, we know that we have to grow our economy to restore jobs lost by investing in emerging and growing sectors. We need a business climate that encourages companies to stay and grow in the Los Angeles region not to move away from it. It won’t happen with zealous tax measures, like Prop. 15.

This past Sunday, the L.A. Times reported on the economic challenges we are facing. I found the opinion piece to be comprehensive in its coverage of the state of our economy.

For our part, find our positions on the November ballot.

Proposition 14 – SUPPORT
Stem Cell Bond Initiative to fund research. California funding has led to over 90 clinical trials for diseases like diabetes, cancer, heart disease, and many more.

Proposition 15 – OPPOSE
One of the largest Property Tax Increases in the state’s history, increasing the cost of doing business in California and harming small, women and minority owned businesses.

Proposition 16 – SUPPORT
California is one of only nine states that bans affirmative action as a tool to level the playing field and fight discrimination. Provides small businesses owned by women and people of color a fair shot to succeed in obtaining government contracts and allows for the consideration of gender and ethnicity in employment and education.

Proposition 21 – OPPOSE
Expands Local Rent Control Authority, effectively reducing the housing supply.

Proposition 23 – OPPOSE
Dialysis Clinic Initiative adds burdensome requirements and likely to drive up the cost of patients’ bills, while reducing access.

Proposition 24 – OPPOSE
Replaces the California Consumer Privacy Act, just enacted this year, creating confusion in privacy rules.

LAUSD Measure RR – SUPPORT
Authorizes general obligation bond to upgrade, modernize and replace aging school facilities, update technology, and address inequities in our children’s schools.

For more information on our positions, you can find them in our Summary of the L.A. Area Chamber Positions and our Voter Guide.