Last night in a speech to the Los Angeles Chamber of Commerce, Governor Brown called on business leaders to stand with him on two major priorities for 2012: passing his balanced budget plan and persuading the legislature to enact his 12-point pension reform proposal.
In the past two weeks, the Governor has visited with several business groups in an attempt to build support for his initiative to raise statewide sales taxes and income taxes over the next five years. He also is pitching his plan to reform public pensions.
“The numbers just don’t add up,” said Governor Brown of the public pension system. “Benefits, contributions and the age of retirement don’t reflect today’s realities, putting taxpayers on the hook for huge costs in the future. The cracks are showing and this dam will burst unless the legislature gets serious and takes urgent and decisive action.”
Governor Brown’s pension reform plan, introduced in October 2011, will apply to all California state, local, school and other public employers, new public employees and current employees as legally permissible.
Click here for the full details of the plan. Click here for a new account of the meeting.
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