A monthly update from the Beverly Hills Chamber of Commerce

Get involved with the Chamber to stay updated on the many policy issues that are impacting the business community. Get connected with the Chamber at  www.beverlyhillschamber.com.

California Mental Health Funding May Get Overhauled

In his State of the State address in March, Governor Newsom announced that he would redirect money from the 2004 Mental Health Services Act to behavioral health housing. Newsom aims to address California's mounting homelessness crisis more specifically by diverting 30% (about $1 billion) of existing Mental Health Services Act funds to unhoused people who are severely mentally ill. Many local authorities were concerned about the Governor's decision. This is another action where the state continues to ignore the needs of the mental health community in order to move funds to address the homeless crisis. To read more click here

Biden Approves Major Disaster Declaration in California for Storm Recovery

As a result of recent winter storms that have affected California, President Biden has approved a major disaster response and recovery fund to assist counties in their recovery efforts. The declaration makes federal funding available to impacted residents and business owners in Kern, Mariposa, Monterey, San Benito, Santa Cruz, Tulare, and Tuolumne counties. The order will also bring more federal resources to these counties to help with ongoing recovery efforts. Governor Newsom urged the President to approve funding following the state's record snowpack.

The effects of the atmospheric river that has affected California over the past three months have caused a considerable amount of damage throughout the state. No clear estimate has been released on the total damage cost. To read more, click here.

Fed Poised to Approve Quarter-Point Rate Hike this Week, Despite Market Turmoil

The Federal Reserve is expected to approve a quarter-point rate hike this week, despite the turmoil in the banking industry. To prevent further financial instability for the country, Federal Chairman Jerome Powell and the Central Bank have decided to raise the inflation rate. The biggest concern is that the actions taken by the Federal Reserve to increase interest rates will eventually cause the economy to enter at least a shallow recession. To read more click here.

California Takes Bold Step to Reduce Truck Pollution

On Friday the U.S. Environmental Protection Agency granted permission for California to enforce a first-in-the-world rule, adopted in 2020, that imposes manufacturers to ramp up sales of zero-emission trucks and buses over the next 15 years. An estimated 300,000 trucks powered by electricity or hydrogen must be on California roads by 2035 and 100,000 by 2030.

According to Governor Newsom’s office, the state has committed $5 billion for the transition to cleaner trucks and buses, and eight other states are moving in a similar direction, as is a 27-country coalition that California is leading. To read more, click here.

Attend our Next GAC Meeting on April 19th

Please attend the Chamber’s next Government Affairs Committee meeting on Wednesday, April 19 at 7 PM at the Chamber Boardroom.

The Government Affairs Committee will welcome Anish Melwani, Chairman & CEO of LVMH Inc. for North America. Mr. Melwani will be discussing the Cheval Blanc Hotel with the opportunity for questions to follow.

Attendance is complimentary for Chamber members. To register, please click here or Contact: Greg Sefain, Economic Development Manager; [email protected]

UPCOMING EVENTS & MEETINGS

4.12   Economic Development Council Luncheon | 12 - 1:30 PM @ Crustacean Beverly Hills 
4.13   Young Professionals Network Committee Meeting | 2 - 3 PM 
4.14   April Networking Breakfast | 8:30 - 10 AM @ Chamber Boardroom 
4.18   Women's Business Network Meeting | 4:30 - 5:30 PM @ Chamber Boardroom 
4.19   SOLD OUT: Women Who Shine Gala | 5 - 7:30 PM @ The Peninsula Beverly Hills 
4.19   Government Affairs Committee Meeting | 7 - 8 PM @ Chamber Boardroom 
4.26   April Chairman's Circle Networking Luncheon | 12 - 1:30 PM @ Il Fornaio

View the full BHCC Calendar here