The San Francisco Chronicle reported:
Regulations on small businesses in California have cost the state's economy $492 billion and 3.8 million jobs, according to a report quietly released by Gov. Arnold Schwarzenegger's office this week.
Republicans in the Legislature have pounced on the findings and on Thursday called the report the "smoking gun" that proves lawmakers are killing the state's economy through burdensome government mandates. But Democrats and at least one capital think tank are highly skeptical of the accuracy of the findings.
The 84-page report does not specify which regulations were studied and relies on data collected largely by Forbes.
Citing the report, Republicans said the state should suspend implementation of Assembly Bill 32, California's greenhouse gas reduction plan championed by the governor, along with all other new regulations.
"We are protecting ourselves literally to death," said Assemblyman Roger Niello, R-Fair Oaks (Sacramento County), at a Capitol news conference held by Republicans to call for action, including legislative hearings and further study to determine costs, or benefits of specific regulations.
This report really does not come as as surprise as California has lost many businesses to other states. Nevada has been actively advertising the "business-friendliness" of the state.
To read the full article, go here.
2 comments:
OMG, you got to be kidding me. I have already made the connection, bit it just makes me slightly irritated. I do not want to go into detail about my opinion so much as to cause a debate or argument, but this is just terrible. August could have done alot to add to this product.
I don't know if August could have helped with California's regulatory problems. - A.
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