SACRAMENTO, Calif., June 15, 2016 – Following the passage of the 2016-17 state budget, NFIB California State Executive Director Tom Scott issued the following statement:
“Small businesses will be the first to tell you this state is on the verge of an economic downturn. Add the pressures of a $15 minimum wage, paid sick leave mandates, and mounting environmental regulations, small businesses are at a two-year low in terms of optimism for growing and expanding their business. This is why we raise great concerns with the state budget passed today. The California State Controller herself has reported that tax revenues are already below expectations—we know this trend will continue as small businesses are not able to hire or expand in this state. Now is the time for fiscal restraint and to double-down on our deposit to the rainy day fund.”
“We are further concerned by the hidden vehicle license fee increase slipped into a budget trailer bill which will cost families and small business owners $1.7 billion over the next five years.”
###
For more than 70 years, the National Federation of Independent Business has been the Voice of Small Business, taking the message from Main Street to the halls of Congress and all 50 state legislatures. NFIB has 350,000 dues-paying members nationally, with over 22,000 in California. NFIB annually surveys its members on state and federal issues vital to their survival as America's economic engine and biggest creator of jobs. To learn more visit www.NFIB.com/california
