Silicon Valley Leadership Group Says LAO Report Validates ABX1 1

The Silicon Valley Leadership Group said today the Legislative Analyst’s Office report on the proposed Health Care Security and Cost Reduction Act validates the legislation, citing the LAO’s findings that ABX1 1 has built-in mechanisms to safeguard the state’s general fund and ensure strong oversight of the health care reform measure.

“The LAO report is like having your doctor assure you that your medical care will be both successful and affordable,” said Carl Guardino, CEO of the Leadership Group, a public policy organization representing 250 Silicon Valley employers.“We urge our legislative leaders to pass health care reform that will bring billions of dollars into our healthcare system, reduce pressure on the General Fund, contain costs and lower health care spending.

“The Silicon Valley Leadership Group strongly supports ABX1 1, and we especially want to acknowledge Governor Arnold Schwarzenegger and Speaker Fabian Nuñez for their hard work and collaboration in bringing it to the Legislature.”

Guardino added that the LAO report, issued last night, validates the financial soundness of the plan, confirms protection of the General Fund, and includes built-in safeguards that keep health care reform financially independent and flexible enough to monitor spending.