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Dems, Business Groups Agree to Regulatory Changes

Business groups and Democratic legislative leaders have worked out some changes to California's regulatory system. The measures will likely pass the legislature within the next week.

California Chamber of Commerce President Allan Zaremberg believes the changes will help give businesses some of the economic certainty they've been craving.

"We're hearing the business community. So please, keep your jobs here, invest here, that's the key," said Zaremberg. "We can't solve the world's problems. But California can be more competitive. And by bringing that certainty here, that's how we can be more competitive."

Under the proposal, state agencies would have to review major regulations more thoroughly, conduct rigorous economic impact assessments, and increase the transparency of the regulatory process. A new Office of Economic Development would help businesses deal with state agencies.

Republicans call the proposal a good first step. But they claim Democrats have killed bills that would have gone further while passing other measures that Republicans believe will hurt businesses.

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