Small businesses throughout California are happy to see the ‘No’ vote on Proposition 15 holding a narrow lead, but they will watch to see if it will stick. It’s a direct dollars-and-cents issue for them because they are certain to be hit with the largest property tax increase in California history at the worst possible time should it pass. This is the most important election result for small businesses of any.
Among the other ballot initiatives, small business was happy to see Proposition 21, the rent control initiative, lose decisively. This measure would have harmed small-business owners and their workers, devastate California’s economy and make the housing affordability crisis worse.
We’re glad to see 13 of the 15 State Assembly candidates endorsed by the NFIB CA PAC holding leads and are hopeful our PAC’s endorsed State Senate candidates can do the same. This was not a pro-small-business Legislature going into the election and it would be terrible to lose even one of the few who have some care for Main Street enterprises.
Ten of the 11 congressional candidates endorsed by our NFIB FED PAC’s are currently holding leads, which is vital because there still remains urgent business to be resolved, such as streamlined PPP loan forgiveness and deductibility of PPP loan forgiven expenses.
It would be nice if California didn’t have to go through this biennial drama of counting its votes and keeping people in suspense, but all will be resolved by the December 11 certification of results.