There are several large proposed changes on the State-wide ballot for November and we’re highlighting the ones that will have a big impact on business.
Proposition 32 raises the minimum wage to $18 next year
Proposition 32, if passed, would raise California’s minimum wage to $17 for the remainder of 2024 and raise it to $18 beginning in January 2025. This bump will also impact small businesses with fewer than 25 employees. They would pay $17 in 2025 and $18 starting in 2026. This ballot initiative would give California the highest minimum wage in the country. As reported in the CalMatters Voters Guide, “According to the MIT Living Wage Calculator, even in the cheapest California county (Modoc), a single adult with no children would need to make at least $20.32 an hour to comfortably afford the basics. The statewide average? $27.32.”
Check out their Prop Quiz to see where you stand on 32.
Prop 5 makes it easier for local government to fund affordable housing and infrastructure projects
California currently requires a two-thirds majority voter approval for city and county bonds, making it difficult for local governments to borrow money. Proposition 5 aims to amend the California constitution, lowering the approval threshold to 55% for bonds funding affordable housing, down payment assistance, and various public infrastructure projects. If passed, the new threshold would apply to future bonds and those on the ballot this November, including a proposed $20 billion affordable housing bond in the San Francisco Bay Area.
Get Involved in Legislative Issues That Matter to Business
Legislation has a large impact on business. It can make things easier or more costly for you. That’s why it’s important to be aware of what’s going on in government affairs. Every month we host a government affairs meeting on Zoom. All are welcome. The replays are also available on our YouTube channel.
Additionally, as a chamber we are out there advocating for business rights and needs. If you have an issue that is important to you, please let us know. We want every voice to be heard and stories shared.
Additionally, consider signing up for CalChamber’s Impact California Action Center, a network of engaged business leaders who are committed to shaping policies that foster economic growth and sustainability.
