CA Business Leaders Fret Over Political Shifts

Like the place wasn't already a madhouse

Business leaders are voicing a number of concerns the morning after the election about both the passage of Proposition 30 and the prospect of a Democratic supermajority in both houses of the California Legislature.

Proposition 30, Gov. Jerry Brown's attempt to raise taxes to alleviate the state budget deficit, emerged victorious, with a 53.9 percent majority vote. The measure was billed as a tax hike to rescue the state's schools.

"What it means is the cost of living and doing business in the state of California just went up," said Barbara Hayes, president and CEO of the Sacramento Area Commerce and Trade Organization.