Business and Economy

The Obama administration began with the worst economic crisis since the Great Depression. The Democratic Party, with no minority party support, gave our country the greatest economic stimulus package in history, which has created and saved millions of jobs.

California Democrats are dedicated to a robust economy and business climate that creates jobs and economic opportunity for all as well as the tax base for the programs and policies we champion.

To grow jobs and assure a prosperous future for all Californians, California Democrats will:

• Support the research, development and implementation of green electrical generation and transportation technologies with some combination of tax credits, low-interest loans/loan guarantees and grants;
• Promote and guarantee low-interest small business loans to provide the seed capital to launch and expand job-creating small businesses and provide for the growth of already successful businesses;
• Support the expansion of existing community bank and credit union programs for state and local funds;
• Facilitate improved banking services for small businesses and consumers by supporting legislation that offers community banks and credit unions incentives for implementing new technologies;
• Defend consumer banking free choice by supporting legislation eliminating out of network ATM fees charged by large financial institutions that have accepted taxpayer funding through the Troubled Asset Relief Program;
• Support a legislative initiative to freeze for up to six months those foreclosures where homeowners had the ability to pay their mortgage before the adjustable rate started climbing by deferring past due payments and increases created by the Adjustable Rate Mortgage (ARM) to the end of the loan and/or wrapped up in a refinance at affordable fixed rates. The state will assist in locating private and/or institutional lenders willing to enter into such a program. In addition the state needs to investigate and fund prosecutions, where appropriate, into private lender and/or mortgage broker abuses, including but not limited to redlining and the unauthorized bait and switch tactic of replacing fixed rate financing with ARMs;
• Support the right of all employees to organize, select a bargaining representative of their choice, work in a safe environment and be free from intimidation and retaliation tactics intended to chill their rights through the use of card check certification;
• Oppose privatization of essential government services and the outsourcing of public sector jobs;
• Reward employers that, instead of moving out of state, choose to remain in California and can show a reasonable likelihood of significant sales and job growth, by giving the California Treasurer/Board of Equalization the right to negotiate a competitive package of discounted state-based fees and/or taxes to offset some of the employer's anticipated cost savings from moving the business out of California;
• Support the adoption of a Universal Health Care plan for all Californians so that California employers will not have to bear the cost burden of being the principal providers of health care and medical care to injured workers through the workers compensation policies they purchase;
• Continue to support and fund job retraining and/or vocational rehabilitation programs to meet the manpower needs of California's changing economy; and
• Oppose new and unfair trade agreements and renegotiate existing agreements.