LA Area Chamber of Commerce Responds to City Council Inaction on Housing

by L.A. Area Chamber

LOS ANGELES - The Los Angeles Area Chamber of Commerce issued the following statement in response to the Los Angeles City Council's failure to act on Measure ULA, also known as the "mansion tax":

"Los Angeles businesses and families deserved better today. The Chamber is deeply disappointed that the Los Angeles City Council put the status quo ahead of the people waiting for relief and missed the opportunity to address the housing crisis that is affecting thousands of Angelenos. When housing production slows, investment declines, and jobs disappear, the consequences are felt across our entire economy. Doing nothing is still a choice, and it is one Los Angeles cannot afford. We urge the Council to reconsider. The November ballot will not wait, and neither will the people, especially renters, who needed relief today."

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About Los Angeles Area Chamber of Commerce
The Los Angeles Area Chamber of Commerce represents the interests of a broad spectrum of organizations across the private, non-profit, academic, and public sectors, including the business community, job creators, and innovators in the Los Angeles region. Our mission is to design and advance opportunities and solutions for a thriving regional economy that is inclusive and globally competitive. As the oldest and largest business association in the region, the Chamber has a long-standing history of convening business leaders, communities, and policy makers to promote a vibrant economy.