The Los Angeles Area Chamber of Commerce applauds newly elected Gov. Gavin Newsom on his commitment to cultivating a business climate in which businesses can grow and prosper, as well as his fiscally responsible proposed State budget. Gov. Newsom entered office with an estimated $14.8 billion budget surplus and his proposed budget is said to be one of the largest in recent State history.
“We are eager to work with Gov. Newsom and his team on this bold, new agenda, and are encouraged by his focus on addressing some of our state’s most significant challenges,” said L.A. Area Chamber President & CEO Maria S. Salinas. “The Governor’s budget reflects the paramount importance of addressing California’s housing and homelessness crisis. We commend the balancing of investments in housing production, emergency shelters, and supportive housing, combined with policy proposals to streamline approvals and enforce regional housing goals.”
In addition, recognizing that our economic growth will slow at some point, the Chamber was encouraged to see a budget which includes down payments on debt and unfunded retirement liabilities, ensuring the State is in a better position to face economic downturns.
As the State and region reap the benefits of a full-employment economy, we commend Gov. Newsom’s proposed investments in education, which will allow our businesses to acquire a skilled and qualified workforce. The new budget proposes significant cradle-to-career investments, particularly in early childhood education, which were significant parts of the cradle-to-career policy agenda that the Chamber proposed to the Governor’s transition team.
David Rattray, executive vice president of the Chamber’s Center for Education Excellence and Talent Development, pointed out that these proposed investments will expand access to a quality education, which will enable more low-income students to access high-wage employment and achieve upward socioeconomic mobility. Gov. Newsom has also proposed establishing a taskforce to consider different options at increasing paid family leave. “The L.A. Area Chamber has worked hard and will continue working to improve our local education and workforce development systems to better serve Los Angeles youth from infancy to college,” said Rattray.
“California is indeed the most creative and entrepreneurial engine of commerce in the world, and we are eager to observe how Gov. Newsom’s budget will enhance the lives of many and improve the State’s economy and well-being,” said Salinas
