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.

Denise Davis
Denise Davis is the CalChamber’s chief liaison with the news media. As vice president for media relations and external affairs, she oversees communications strategy and outreach, and manages the CalChamber’s involvement in select issue advocacy and ballot measure campaigns. See full bio.