L.A. Area Chamber Statement on California State Budget Proposal


February 13, 2009

The Los Angeles Area Chamber of Commerce urges Governor Arnold Schwarzenegger and the California State Legislature to take swift action to pass the current budget proposal to address the $42 billion state budget deficit that is impacting all aspects of California’s business and economic climate.

“The California state budget is nearly eight months overdue and the time to act is now,” said Gary Toebben, President & CEO, Los Angeles Area Chamber of Commerce.  “There is – and will never be – a perfect solution to our state’s budget crisis.  The current proposal is the only foreseeable step in bringing much needed financial stability to the municipalities, businesses and residents across our state.”

For the past nine months, the L.A. Area Chamber has advocated for state budget reform that addresses the long-term fiscal challenges facing California. The current budget proposal appears to address many of the guiding principles for reform that the Chamber developed last June including a balanced combination of spending reductions and revenue increases to close the growing budget gap and mechanisms to strengthen budget reserves.

“While the entire state is frustrated with the delay in passing a budget, the L.A. Area Chamber appreciates the continued efforts of Governor Schwarzenegger and our legislative leaders to address this crisis,” said Toebben.  “Now is the time to act.”

The Chamber’s guiding principles for budget reform can found at: http://www.lachamber.com/clientuploads/Access_Sac/Budget_Reform_Guiding_Principles_FINAL.pdf.  More information on the L.A. Area Chamber is available at www.lachamber.com.

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The Los Angeles Area Chamber of Commerce represents the interests of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com.

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