LOS ANGELES, CA – The Los Angeles Area Chamber of Commerce today announced its endorsement of Propositions 1A, 1B, 1C, 1D, 1E and 1F on the May 19 California Special Election Ballot. Leading up to the election, the L.A. Area Chamber, which represents more than 1,600 businesses and 700,000 employees in the greater Los Angeles region, will communicate with its members about the significance of the special election and its endorsements surrounding the budget reform package.
“With Propositions 1A through 1F the people of California have the opportunity to restore accountability to their government and fix the state’s dysfunctional budget system,” said Governor Arnold Schwarzenegger. “These measures represent critical short-term solutions to help us through these difficult economic times and lasting reforms that will stabilize our budget process, help stimulate the economy and improve the state’s business climate. The Los Angeles Area Chamber of Commerce joins a growing, bipartisan coalition of supporting budget reform on May 19 so we can get California back on the right track.”
Props 1A-1F is a package of budget reforms designed to aid short-term economic recovery and enact long-term solutions to the budget crisis. They address many of the guiding principles for reform that the L.A. Area Chamber developed in June 2008. Props 1A and 1B will help put an end to the “boom-and-bust” budget cycle that has failed the state by creating a rainy-day fund, establishing a spending cap and restoring the Proposition 98 funding for K-12 education that has been loaned to the General Fund. Props 1C, 1D and 1E will more fully utilize the potential of the state lottery and reallocate a portion of the dedicated funds generated by Proposition 10 and Proposition 63. Prop 1F will prevent salary increases for state elected officials when a deficit is expected.
“The passage of Props 1A, 1B, 1C, 1D, 1E and 1F are the necessary final steps we all must take to balance the $42 billion state budget deficit,” said Gary Toebben, President & CEO, Los Angeles Area Chamber of Commerce. “These propositions, while not perfect, are the best available solution to reform the broken budget process that has crippled California for far too long and will help restore fiscal health to our state.”
The L.A. Area Chamber joins a growing bipartisan coalition of business and public interest groups supporting budget reform on the May 19 ballot. Other organizations which have voiced their support include: California Forward, the California Teachers Association, the California Senior Advocates League, the California State Sheriffs' Association, the California Fire Chiefs Association, the California Peace Officers' Association, the University of California Board of Regents, the CalChamber, California Black Chamber of Commerce, California Hispanic Chambers of Commerce, California Business Roundtable, California Retailers Association, Engineering & Utilities Contractors Association, Building Owners and Managers Association of California, and many others.
The Chamber’s guiding principles for state budget reform are available at www.lachamber.com/budgetreform. The Chamber’s voting guide for the May 19 California Special Election is available at www.lachamber.com/votinguideMay09.
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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.