Platform 2012: 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. We recognize that America has always been the Land of Opportunity.  This is largely due to the fact that an individual can start a small business and with hard work and good ideas can share in the American Dream.  Government must work to preserve that opportunity for citizens to start small businesses and have a reasonable opportunity for success. We support the development of programs by Cities, Counties, States, and Federal agencies to provide greater contracting opportunities to small businesses.  We support direct lending programs to small businesses by government agencies including the SBA.

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

• Not shrink in our duties to create sustainable jobs for future generations but instead support the research, development and implementation of green electrical generation and transportation and communication technologies with some combination of tax credits, low-interest loans/loan guarantees and grants and that encourage the conservation and sustainability of natural resources in order to prevent future conflicts regarding scarce resources;
• Take steps to encourage the sustainable growth of small businesses which will serve as the backbone of California's economic recovery. 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;
• Prevent irresponsible lenders from doing business in California. Promote the investigation of the viability of the creating State-owned bank while also educating the public about credit unions and promoting 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 to eliminate out of network ATM fees and to prevent the imposition of bank fees for use of debit cards;
• Demand accountability from banks that received TARP funds deliver on providing foreclosure relief. Support a legislative initiative to provide foreclosure relief to borrowers who were the victims of unscrupulous loan brokers or unconscionable banking practices. 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 separation of retail and investment banking in order to safeguard Californians with current deposits in such banks from speculative investment activities and to free-up capital for loans to businesses and individuals. Strengthen the state agencies that provide regulatory oversight of banks as well as utilities;
• Support the rights of all employees to organize, select a bargaining representative of their choice through card check recognition, work in a safe environment and be free from intimidation and retaliation tactics;
• Oppose privatization of essential government services and outsourcing of public sector jobs, promote the development and purchase of goods that are made in America, and support the modification of the US tax code so that corporations are incented to hire workers in the U.S. instead of abroad;
• Encourage an investment in California's infrastructure in a way that will support the state's growth through the 21^st Century and beyond; including supporting the efforts to bring high-speed rail to the state, facilitating the movement of Californians around the state while securing thousands of jobs for our workers;
• 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;
• Support the implementation of tax policies that provide a higher degree of tax equity;
• Continue to support and fund job retraining and/or vocational rehabilitation programs to meet the manpower needs of California's changing economy;
• Oppose new and unfair trade agreements and renegotiate existing agreements;
• Provide new funding mechanisms and legislative support for the promotion of progressive big businesses to foster the legitimate democratic aspirations of individual investors and employees to build strong, profitable corporations with elected accountable leadership, separation of powers, checks and balances, and other tools of an economically democratic society;
• Promote and guarantee low interest small business loans to provide the seed capital to launch and expand job-creating small businesses and/or cooperative member/worker owned small businesses and provide for growth of already successful businesses;
• Facilitate sustainable economic development by introducing strategies for peace, and green technologies, and to improve the business environment and conditions that are hampered by violence in its many forms in the United States and internationally;
• Provide low interest start up loans to National Defense contractors to convert their products and /or services to meet the needs of a Sustainable Peacetime Economy;
• Schedule a phase out of unwarranted corporate farm subsides to create a more equitable and local food market system;
• Maintain and enforce food labeling and strict production standards for organic and GMO products (Genetically Modified Organisms) grown or marketed in California; promote government research on long-term environmental and health effects of genetically engineered food and unicrop production; and support policy change to address issues of food safety and humane treatment of animals in food production; support a uniform criteria for determining what is truly a "small business" and eliminating loopholes that allow large corporations to benefit from preferences intended for small businesses;
• Address the crisis of long-term unemployment by supporting efforts to extend by 14 weeks federal unemployment benefits to those who have exhausted their benefits; and,

Target resources to the communities of interest who have been most impacted by the economic recession