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May 14, 2026                                                                                       (916) 553-4093

CBRT President Releases Statement on
Governor's State Budget May Revise

Rob Lapsley, president of the California Business Roundtable, issued the following statement in response to Governor Gavin Newsom's May Revision to the State Budget:

“California’s ability to fund critical public services ultimately depends on a strong and growing economy powered by innovation, private investment, entrepreneurship, and well-paying jobs. The governor clearly recognizes that California’s technology and innovation sectors serve as major economic engines for the state and create the investment and growth that we see in new companies, especially in the AI space. More importantly, the governor recognizes that their success generates the revenues that support schools, public safety, infrastructure, health care and other essential services.

“At a time of continued economic uncertainty and budget pressures, the California Business Roundtable Board of Directors believes it is imperative to remain focused on policies that encourage investment, job creation, and long-term economic growth. Proposals such as a wealth tax and other targeted tax increases send the wrong message to the very employers, investors, innovators and future entrepreneurs whose success drives our state revenues and pays for essential services. California’s fiscal stability is strongest when we grow revenues through economic expansion and rising employment, not by penalizing investment, entrepreneurship, and the job creators who continue to fuel the state’s economy.”