California Governor Jerry Brown has pulled in the first business endorsement for his budget plan. The Los Angeles Area Chamber of Commerce is signing on as a supporter of the Governor's tax extension, but is expecting pension and regulatory reforms too.
“Our first choice was to support the $25 billion in spending cuts,” said GaryToebben, the chamber’s president and CEO. “And when we looked at the impact on education, infrastructure and social services, we determined it would be a significant blow to our economy.”
Brown’s plan to balance a nearly 27 billion dollar deficit won’t pencil out unless voters approve the tax extensions. The governor is still looking for two Republicans in each chamber to support placing the measure on the ballot.
The San Fernando Valley Industry and Commerce Association says it also backs sending the tax measure to voters, but isn’t endorsing the measure itself yet. Other business groups have said they’ll support Brown’s proposal if it also includes regulatory or pension reform.
