L.A. Area Chamber urges Governor and Legislature to advance a budget by June 15


May 19, 2011 4:00 am

 L.A. AREA CHAMBER URGES GOVERNOR AND LEGISLATURE TO ADVANCE A BUDGET BY JUNE 15                

 LOS ANGELES — Today, the Board of Directors of the Los Angeles Area Chamber of Commerce voted to re-confirm its commitment to a balanced state budget and major reforms to assure the long-term stability of our state.  The Board went on to commend the progress made in the May Budget Revise and urged both the Governor and the Legislature to finalize a budget agreement by June 15.   

“In February, the L.A. Area Chamber was the first business organization to make a strong and unequivocal statement about the Governor’s proposal to balance the state budget with an equal combination of expense cuts and temporary tax extensions,” said Chamber President & CEO Gary Toebben.  The Chamber’s support for budget cuts and tax extensions took place after the Governor voiced his support for regulatory reform and pension reform, stated Toebben.  “These two issues are very important to the business community.  Unless we have regulatory reform, we will not be able to create the jobs we need to dig out of the hole we are in,” Toebben stated.  “And unless we reform our state and local pension systems, new tax revenue from job growth will go toward pensions rather than the public services that our citizens expect.” 

Earlier this month, with the hopes of re-starting the stalled budget negotiations, the Chamber joined with a statewide group of business organizations to form the Coalition for a California Financial Workout Plan. The coalition has since developed and detailed a five-point workout plan, which addresses spending control and budget reforms; a path to job creation; pension reform; a government closer to the people; and extension of temporary taxes.

“The business community of California wants to be able to inform the world that our State is capable of successfully addressing major budgetary and public policy concerns.” Toebben stated.  “We are optimistic that a financial workout plan can be achieved.  We’ve defined the contours of a real budget, and now it’s time to make it happen.”

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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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