2016-17 State Budget Raises Concerns for Small Business

Date: June 15, 2016

FOR
IMMEDIATE RELEASE

National Federation of Independent Business/California
Contact: Shawn Lewis (916) 342-9315;
[email protected]

2016-17 State Budget
Raises Concerns for Small Business
Historic $122.2 billion
budget ignores impending economic downturn


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

Related Content: News | Money | Accounting Basics | California

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