The San Diego Regional Chamber of Commerce today called on the state legislature to consider Gov. Arnold Schwarzenegger's budget proposals so a standoff of nearly two months can be broken.
"California's state budget is (almost) two months late, and still faces an enormous $15 billion budget shortfall,'' said Ruben Barrales, the chamber's president and chief executive officer.
"The governor has taken a difficult step to balance the budget and provide a solid foundation for real budget reform.''
Last week, the governor proposed a budget package that includes a $13 billion rainy day fund, allows for reductions of up to 7 percent in operating budgets when revenues come in lower than expected, reduces spending for the current fiscal year by $9.9 billion and raises education funding by $1.2 billion.
A budget package put forward by assembly Democrats 10 days ago failed to reach the necessary 54 votes for approval.
"It is time for state leaders to seriously consider the governor's budget compromise,'' said Barrales, who also supported Schwarzenegger's proposals to offer economic incentives for small businesses.