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

November 5, 2024 (916) 553-4093

California Business Roundtable Issues Statement on Defeat of Proposition 33

SACRAMENTO—California Business Roundtable President Rob Lapsley issued the following statement today in response to the defeat of Proposition 33, a key priority for the Roundtable:

“Once again, voters have overwhelmingly rejected a deeply flawed statewide rent control measure. For the third time, voters have recognized that high housing costs are the result of California policies that restrict housing construction for both affordable and market-rate housing and that Prop. 33 would just drive up the cost of housing even higher.

"There are policy solutions that can help alleviate the out-of-control affordability crisis affecting the state’s housing market, but voters have made it clear again that rent control is not that solution. Meaningful change will only come if and when the business, housing, and advocate communities come together, much like we did with AB 1482 in 2019, and create comprehensive and long-term solutions that bring certainty and predictability to the market that will create more affordable housing for all Californians."

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California Business Roundtable

1301 I Street, Sacramento, CA 95814

916.553.4093

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