The 2012 Elections have come and gone and we are now preparing for the 2013 Legislative Session. However, before we look forward, we’d like to take a moment and congratulate all the winners from Tuesday.
Of special note, congratulations to Governor Brown who won his hard fought battle to pass Proposition 30 “Temporary Taxes to Fund Education.” That measure passed with 54% of the electorate supporting it. We hope this measure, as advertised, will help California stabilize its budget.
Additionally, congratulations go to leading Democrats in both the Assembly and Senate, as they have been able to secure a two-thirds majority in both Houses. This is the first time in over 100 years that any party has wielded such power. This supermajority status will allow tax increases, placing constitutional amendments on the ballot, and gubernatorial veto overrides, all without needing any Republican votes.
President Barack Obama was also reelected with more than 59% of the state’s vote.
Congratulations to all the winners from Tuesday Democrat and Republican alike. On behalf of the commercial, industrial, and retail real estate industry, we look forward to a productive year ahead.
With over 40 new members of the Legislature, it is extremely important for our industry to step up efforts to educate – new and returning – policymakers about the important and valuable role of real estate to our economy. Your involvement in the Sacramento legislative process is now more important than ever.
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