Prop 23 is Bad for Business
It
is no secret that two Texas oil companies have bought their way onto
the California ballot in an attempt to undo California’s clean energy
and clean air standards. The companies bankrolling Proposition 23,
Tesoro and Valero, are two of the largest polluters in our state. Their
intent: kill California’s job-creating clean air and energy standards
and cripple their clean-energy competition.
Their campaign, which has received more than 89 percent of its
contributions from out of state, deceptively frames Proposition 23 as a
"jobs" initiative and uses the word "suspend" rather than repeal. But
the trigger for resumption of the law would be when unemployment falls
below 5.5 percent for an entire year – something that has happened only
three times in 40 years, according to the Legislative Analyst’s Office.
For any business, Prop 23 would create a climate of uncertainty and
cause chaos in the marketplace.