HERE’S WHAT BIZFED BOARD DECIDED IN FEBRUARY
Many thanks to our February Board Meeting host Andeavor!
Here’s what we covered at the meeting:

Protect Transportation Funding – support Prop 69 and oppose repeal of SB1  

ACA 22 (McCarty) would add 10% tax surcharge (in addition to the existing 8.84% tax rate) on California companies making over $1 million per year. If approved, ACA 22 will make California’s the highest corporate tax rate in the nation. This not only disadvantages California employers and employees, but gives existing businesses an incentive to move out of state and prevents prospective businesses from starting up. See our letter here.

Will the most popular cars in CA be banned?

AB 1745 (Ting) requires that all new cars sold in CA by 2040 to be zero tailpipe emission electric vehicles.  With Electric Vehicles making up only 4% of new car sales over the past 9 years,  this would limit mobility and transportation options for Californians and negatively impact residents who either cannot afford or have no access to 100% electric cars. This bill ignores consumer choice and the high costs of new infrastructure required to support these zero emissions vehicles. California’s climate strategies should include policies that aligns with technological innovations, accounts for cost-benefit analysis, and focuses on long-term environmental goals – not just quick fixes.  Click here for our letter.

Short Term Lending should be studied in LA – fairly

Well regulated short-term consumer lending is important to all communities, but not all communities have equal access to short-term credit. Low-income communities continue to be disproportionately affected by the lack of credit options, which consumers rely on for any sudden medical emergencies or short-term financial crises. To help improve the financial security of low-income individuals and families, it is important to study the negative effects of high-cost loans and the consumer protections required to ensure fiscal soundness for all consumers. BizFed will urge LACBOS to present a fair and unbiased study that educates members and lawmakers about the need of safe, regulated credit options. See our letter here.

Students seek to weaken business voice in Westwood

 A UCLA student-run coalition has proposed to divide the Westwood Neighborhood Council. This will split the local business community and reduce their voice in decision making.  The Westwood Village Business Improvement District and half of Westwood’s historic Iranian-American business community would be excluded from the existing council. The BizFed Board concluded that splitting this council will negatively impact the stable business climate that has supported the Westwood area for decades, however there are diverse views among the Westwood business community.  See our letter here.