The California Chamber of Commerce is leading a coalition that is organizing to stop a proposed initiative that would hurt the state’s ability to invest in vital public works projects.
Dubbed by supporters as the “No Blank Checks” initiative, the proposal would require a statewide election every time the state or a state-local partnership seeks to issue revenue bonds exceeding $2 billion to pay for infrastructure projects.
The CalChamber Board of Directors has voted to oppose the ballot proposal. Supporters must collect 585,407 signatures by September 10, 2015 to place the measure on the November 2016 ballot.
The opposition coalition is named Citizens to Protect California Infrastructure.
Read the commentary by CalChamber President and CEO Allan Zaremberg here to learn why the proposed initiative is dangerous for our economy and the safety of our citizens.