SACRAMENTO, CA – The following statement is from the California Bankers Association (CBA) regarding Governor Arnold Schwarzenegger’s decision to call a special election this November:
“The California Bankers Association (CBA) offers its congratulations to Governor Schwarzenegger for his decision to call a special election in November to put his much-needed reform measures before California’s voters. California’s banking industry believes that meaningful reform is integral in the recruitment and retention of viable business opportunities in California and remains optimistic about the passage of such reforms.
“We believe strongly that fiscal responsibility can and should be among the highest priorities for our state’s legislators and that Californians deserve a better budget process. Our current budgeting process costs taxpayers millions, delaying budget reform until next June would cost billions — the special election is a one-time cost which will eliminate these kinds of budget overruns in the future.
“Just as a competitive business environment produces the best product for customers, a competitive election process ensures sufficient dialogue on the issues and the best candidate for a district’s voters. Little or no competition exists in many of our state’s legislative districts and we recognize that competition is good in politics, just as it is good for business. By transferring the responsibility for drawing the lines of legislative districts at the state and federal levels to retired judges, Californians will ensure the return to competitive elections, an integral part of democratic government.
“California’s banking community also understands the value of quality education, particularly as it relates to the employment pool. Businesses of all sizes need motivated, educated employees. Adjustments need to be made to the ways in which public school teachers are incentivized to remain in their profession, rather than the current system rewarding nearly every teacher with tenure, regardless of performance.
“Californians want and deserve the best and we are hopeful that they will recognize the special election as the way to achieve that.”
