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FOR IMMEDIATE RELEASE CONTACT: Brooke Armour [mailto:[email protected]]

April 26, 2023 916.553.4093

Business Roundtable Supports Governor Newsom's Opposition to Senate Tax Proposal

SACRAMENTO—California Business Roundtable President Rob Lapsley issued the following statement today supporting Governor Gavin Newsom’s quick opposition to the State Senate’s business tax proposal:

“We support Governor Newsom’s opposition to the state Senate’s budget proposal, which would raise taxes on California businesses. California’s cost-of-living crisis and economic slowdown are affecting businesses and working families alike. State revenues are still well above historic levels, and we are well-positioned to manage the reduced budget surplus without raising taxes. It is well established that increased taxes get passed on to consumers, so this proposal by the Senate will cynically increase our cost-of-living crisis and disproportionately affect working families.”

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California Business Roundtable

1301 I Street, Sacramento, CA 95814

916.553.4093

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