CalChamber Issues Statement on Special Session to Strengthen Rainy Day Fund

Contact: Christine Haddon

SACRAMENTO, CA — California Chamber of Commerce President and CEO Allan Zaremberg today released the following statement on Governor Edmund G. Brown Jr.’s decision to call a special session to strengthen California’s rainy day fund:

“Adopting an effective Rainy Day Reserve should be the state’s top fiscal policy. California’s budget crises were caused by the Legislature spending one-time revenues for ongoing programs. A solid reserve requirement will remove the California budget from the fiscal roller coaster. It is crucial that the Legislature pass a consensus proposal that the Governor can support to get approval by voters in November.”

The California Chamber of Commerce (CalChamber) is the largest broad-based business advocate to government in California.  Membership represents one-quarter of the private sector jobs in California and includes firms of all sizes and companies from every industry within the state.  Leveraging our front-line knowledge of laws and regulations, we provide products and services to help businesses comply with both federal and state law.  CalChamber, a not-for-profit organization with roots dating to 1890, promotes international trade and investment in order to stimulate California’s economy and create jobs.  Please visit our website at www.calchamber.com.

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