(January 11, 2005) California Chamber of Commerce President Allan Zaremberg released the following statement yesterday regarding the budget proposal released by Governor Arnold Schwarzenegger:

“The Governor has taken a courageous stand to finally bring the budget under control.  It may be difficult, but it is absolutely necessary.

“We look forward to working with the Governor to accomplish the task of promoting policies aimed at continuing economic recovery by submitting a balanced budget to stimulate and sustain economic growth.”

In releasing his budget proposal, the Governor noted that it is balanced, does not raise taxes, and increases state spending by just 4.2 percent. Continuing his commitment to education, the Governor pointed out that general fund spending on education will increase 7.1 percent. The Governor repeated his call for an end to auto-pilot formulas that boost state spending faster than revenues.

For more information on Governor Schwarzenegger’s budget proposal please visit gov.bud.dof.ca.gov.