U.S. Chamber Regrets Governor Schwarzenegger's Signature of AB 32

WASHINGTON, D.C.-The United States Chamber of Commerce today expressed its disappointment in Governor Arnold Schwarzenegger for signing AB 32, the California-only, mandatory climate change regimen that will have severe, long term consequences for the state's economy and consumers.

"Caps on carbon emissions put California at a competitive disadvantage, and will drive jobs and production out of the state and out of the nation," said Thomas Donohue, president and CEO of the U.S. Chamber. "If California lawmakers think they can add punishing costs and bureaucracy to its economy without forcing corporate planners to look elsewhere, then they are sorely mistaken."

In a worldwide economy where money, jobs, and production can move anywhere, California cannot afford the regulatory uncertainty this legislation will create, according to the Chamber. The arbitrary carbon emission cap in AB 32 will mean greater costs and hardship for workers, families, and businesses in California while doing nothing to reduce global warming.

"Our nation cannot sustain its prosperity without a strong, job-producing California economy. Governor Schwarzenegger has done many good things to improve the state's business climate, but his signature on AB 32 is a big mistake," Donohue said. "We need a global solution to global warming that includes all polluting countries and embraces new technologies and positive incentives."

The U.S. Chamber of Commerce is the world's largest business federation, representing more than 3 million businesses and organizations of every size, sector, and region, including tens of thousands of California companies.

www.uschamber.com

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