News & Updates - Business Roundtable Statement in Response to Governor Newsom’s Budget Proposal

January 10, 2019

SACRAMENTO—California Business Roundtable president Rob Lapsley issued the following statement in response to Governor Newsom’s budget proposal, which was released today:

“We appreciate Governor Newsom’s vision and hard work in presenting his first budget that builds a three-year framework for his spending priorities. From an initial review, we support his many of his one-time investments such as the expanded Earned Income Tax Credit (EITC), K-12 and higher education, paying down retiree pension and health care debt, and housing reforms.

“However, as we assess his three-year framework, we will be focused on the details of these proposals. Our first priority is to analyze the impact of increased permanent spending commitments that could lead to increased revenue pressures in the future, which would likely lead to increase costs for Californians who are already some of the most heavily cost-burdened in the country.

“Our second priority is to support innovative reforms that would be a critical companion to increased spending. Additional revenues by themselves will not change the outcomes that are desperately needed for upward mobility, communities of color and our future blue-collar and white-collar workforce.

“We look forward to discussions with the governor and the new administration in how the business community can support their key budget proposals while also ensuring support for  reforms that deliver real results for all Californians.”

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