One of the missions of the Sunnyvale Chamber of Commerce is to be a leader in aggressively representing your business interests on the local, county, state, and national levels. We strive to keep our members up to date on the issues and pending legislation that affect Silicon Valley's business community.
LATEST HEADLINES:
Governor Begins New Year
with Balanced Budget Plan No Deficit, No New Taxes in Tight Spending Proposal
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Governor Arnold Schwarzenegger presents state budget proposal on January 10 that eliminates the operating deficit. Associated Press Photo |
January 12, 2007, Governor Arnold Schwarzenegger opened his second term this week with a proposal for a balanced budget with no new taxes or operating deficit.
The budget announcement was the culmination of a series of proposals to address major issues for California’s economic climate. At each step, the Governor encouraged everyone to participate in the policy debate to develop solutions.
No New Taxes
The $103 billion spending plan presented by the Governor this week eliminates the operating deficit, includes no new taxes, accelerates repayment of the state’s debt and incorporates a $2 billion rainy day fund while holding spending growth to 1 percent.
California Chamber President Allan Zaremberg commented, “These budget achievements were made possible by the record revenues produced by the Governor’s pro-jobs and economic growth policies, not by new taxes. These policies have led to 680,000 new jobs and more than $25 billion in additional revenues since the Governor was first elected — revenues the state can use to fund essential services, such as education, public safety and transportation.
“The CalChamber applauds this fiscal discipline, which will help our state stretch the dollars of the recently approved infrastructure bonds to the fullest and pave the way for California to take the next step in building for the future.”
Health Care Plan
Earlier in the week, the Governor outlined a proposal for reforming the health care system, emphasizing the need for shared responsibility from individuals, government, doctors and hospitals, insurers and employers.
The Governor’s proposal includes having employers of 10 or more workers pay 4 percent of payroll if they do not provide health care coverage and requiring all Californians to have health insurance.
In his State of the State address on Tuesday, the Governor reiterated his call for action on health care, citing rising costs and lack of coverage for 6.5 million Californians as reasons the system is “a sick old man.”
More Investments
The Governor also called for investment in education and following up on the infrastructure bonds voters approved last November with investments in public safety, water supply, transportation and disaster preparedness.
In addition, he asked legislators to work with him to make California the first in the world to develop a low carbon fuel standard that leads the state away from fossil fuels while granting market flexibility on how to reach the standard.
He also asked legislators to “do the right thing for the people” and work with him on political reform by creating an independent commission to draw boundaries for legislative and congressional districts.
CalChamber Position
The CalChamber shares the Governor’s vision for a California with improved education and infrastructure, a fiscally responsible and political responsive state government, and a business climate that promotes innovation, job creation and continued economic growth.
The CalChamber looks forward to working with Governor Schwarzenegger to continue building a better California.
Get informed - then get involved!
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