AeA Reaction to Governor Schwarzenegger's 2009 Budget Proposal
 

"AeA, the nation's largest high-tech trade association, is encouraged that Governor Schwarzenegger continues to work towards a budget solution with substantive spending reform and economic stimulus as two of its central components.

"We are especially pleased to see that part of the Governor's plan for invigorating the California economy includes the necessary clarification for determining overtime for highly-compensated software engineers, analysts and programmers. This bright-line will allow California's high-tech companies to grow and expand their operations in California by removing the uncertainty that currently exists. AeA believes that the Governor's compromise appropriately recognizes the need for budget reform in concert with an overall net sales tax reduction and budget cuts.

"It is our hope that this most recent version of the budget can serve as a starting point to renew earnest negotiations and compromise and that the Governor and our legislative leaders can develop a budget that will bring stability to our states finances. We applaud the Governor's effort to propose a budget that is in the best interest of California, as opposed to choosing political sides at the expense of its citizens.

"AeA believes that the Governor's recent proposal is a positive step toward working with both Republicans and Democrats to work together and pass a responsible budget that includes a fix to California's broken budget system.

"Furthermore, as the high-tech industry continues to play an integral role in bringing the state up and out of the current economic downturn, we find it reassuring that the Governor continues to rely on revenue raising solutions that avoids diminishing or eliminating California's R&D tax credit."

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About AeA
AeA, the nation’s largest technology trade association representing all segments of the high-tech industry, is dedicated solely to helping our members’ top line and bottom line. We do this in partnership with our small, medium, and large member companies by lobbying governments at the state, federal, and international levels, providing access to capital and business opportunities, and offering select business services and networking programs. For more information, please visit www.aeanet.org.

This page was last updated on 08/27/08.