Chamber Economic Council views proposed tax cuts as positive, cites control of expenditures as key to improved state budget picture.SACRAMENTO, Calif.--(BUSINESS WIRE)--Feb. 28, 1995--Tax cuts proposed by the Governor would have a positive impact on the state's economy, but restraint on expenditures is the key to an improved California budget, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the California Chamber's Economic Advisory Council. In its quarterly report to the California Chamber board of directors, the council noted that the state's competitive position would be improved by a tax cut, especially a reduction in the bank and corporate tax (as proposed by Governor Pete Wilson For others named Pete Wilson, see . Peter Barton Wilson (born August 23, 1933) is an American Republican politician from California. Wilson served as the thirty-sixth Governor of California (1991–1999), the culmination of more than three decades in the public arena that and his task force of economic advisors). Just as important to make the state more competitive, the council said, is restructuring the education system, reducing the regulatory burden on business and improving the quality of life throughout the state. Helping to make the state globally competitive, the council noted, are California's world-class higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. institutions, venture capital and investment capacity, port facilities, and access to potential rapid growth in Mexico and Latin America. Although the California economy continues to improve, it remains the consensus of the council that growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in the state will not match those of the nation until after the next national recession. Factors that will keep the state's economic recovery slow for some time, the council said, include aerospace layoffs and their aftermath, peso devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. , Orange County bankruptcy, the earthquake in Japan and the continuing domestic outmigration from California. The California Chamber Economic Advisory Council is a statewide panel of economists from the private and public sectors. For copies of the council's full report, contact Ann Amioka, 916/444-6670, extension 234. Direct questions about the content of the report to: Fred Cannon Chair, California Chamber Economic Advisory Council Senior Vice President, Investor Relations Investor relations The process by which the corporation communicates with its investors. , Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. 415/624-0491 J. Gordon Palmer Jr. Vice Chair, California Chamber Economic Advisory Council Manager of Master Planning, Port of Long Beach 310/590-4157 CONTACT: California Chamber Economic Advisory Council Fred Cannon, 415/624-0491 J. Gordon Palmer Jr., 310/590-4157 |
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