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Schwarzenegger Tells Local Business Leaders Why California Has No State Budget

Audio

Aired 7/30/10

Governor Schwarzenegger made a stop in San Diego Thursday to discuss California's overdue budget. KPBS reporter Sarah Gonzalez explains what he said to local business leaders.

Governor Schwarzenegger made a stop in San Diego Thursday to discuss California's overdue budget with local business leaders.

The governor met with members of the San Diego Regional Chamber of Commerce. The purpose of the meeting was to help local business leaders understand why the Governor has still not signed a state budget. Among his long list of reasons, tax and pension reform were at the top.

Schwarzenegger told the group his goal is to create more jobs in the state, and he says the only way to do that is to offer tax incentives, not increases.

"In the history of the world, we have never seen tax increases ever having any benefit. Tax increases never created a job, never expanded companies. It's always the opposite. If you give tax incentives, you create jobs. It's as simple as that," said Schwarzenegger.

Ruben Barrales is CEO of the chamber. He says he's pleased with the governor's remarks.

"It's important to hear from him what he's trying to do to create jobs in California, to keep taxes low on businesses and on residents so that our economy can hopefully recover from this recession," said Barrales.

The governor is waiting for a final budget from the legislature. He says he hopes Democrats and Republicans will send one he's willing to sign. In other words, a budget without tax increases.

Schwarzenegger says he doesn't expect that to happen for another few weeks.

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