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August 20th, 2003 ARNOLD MEETS WITH ECONOMIC RECOVERY COUNCIL
OUTLINES AGENDA FOR FISCAL REFORM
Arnold Schwarzenegger today met with members of his Economic Recovery Council, including Warren Buffett and George Shultz, to discuss the economic and jobs environment in California.
“The people of this state are working hard and raising their families. Our businesses are the most innovative on the
face of the earth. We still have all the elements that made us great and prosperous. We have everything we need,
except leadership,” said Schwarzenegger.
Regarding taxes, Schwarzenegger added: “It’s not that the people of California are under taxed, it’s that the
politicians have overspent. Additional taxes are the last burden we need to put on the backs of the citizens and
businesses of California.”
Schwarzenegger committed to strengthening California’s economic climate by enacting the following:
- Budget spending caps
- Workers’ compensation reform
- Unemployment insurance fund reform
- Litigation reform
- Regulatory reform
“These critical issues must be addressed to ensure the economic recovery that California so desperately needs,” said
Schwarzenegger.
Members of Schwarzenegger’s Economic Recovery Council include:
- Warren Buffett, Chair, CEO Berkshire Hathaway, Inc.
- George Shultz, Co-Chair,Distinguished Fellow, Hoover Institution, Stanford University
- Dr. Michael Boskin, T.M. Friedman Professor of Economics, Stanford University and Senior Fellow, Hoover
Institution
- John Campbell, State Assemblyman, 70th AD
- John Cogan, Senior Fellow, Hoover Institution, Stanford University
- Robert Day, Chairman & CEO, The TCW Group, Inc.
- James Doti, President, Chapman University
- Gene Fama, Professor, University of Chicago, Graduate School of Business
- Larry Flores, President, Owner and CEO, El Tapatio Markets
- Paul Folino, Chairman & CEO Emulex Corporation
- Russell Goldsmith, Vice Chairman & CEO, City National Corporation
- Bonnie Guiton Hill, President, B. Hill Enterprises, LLC
- Brian Halla, Chairman of the Board, President and CEO, National Semiconductor Corporation
- Warren Hellman, Chairman, Hellman & Friedman
- Bill Jones, Former California Secretary of State 1994-2002
- Ray Lane, General Partner, Kleiner, Perkins, Caufield & Byers
- Ed Leamer, Director, UCLA Anderson Forecast
- David Murdock, Chairman & CEO, Owner, Dole Food Company and Castle & Cooke
- Carlos Olamendi, President and CEO, COR International
- Jerrold Perrenchio, Chairman and CEO, Univision Communications, Inc.
- Arthur Rock, Arthur Rock and Co.
- Donna Tuttle, President & Co-Founder, Korn Tuttle Capital Group
- Julie Meier Wright, President & CEO, San Diego Regional Economic Development Corporation
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