Senator Boxer Addresses Institute Advisory Board
Senator Barbara Boxer spoke at a luncheon meeting of the Institute's Advisory Board members on Wednesday. The Institute wishes to thank IBM for hosting the luncheon. Senator Boxer focused her remarks on a number of issues related to California and the "new economy."
The Senator emphasized the importance of technology industries, both to California and the nation as a whole. Last year, for instance, half of the more than 300,000 new California jobs were created in the high tech industry. Boxer noted that despite the economic success which has accompanied technological advancement, current laws and governmental practices have seriously interfered with increased economic growth. For instance, she said, although laws limiting the export of encryption technology once addressed crucial national security concerns, rapid technological change and widespread international availability of such products have rendered the statutes outdated and have undercut the ability of domestic producers to compete in the international marketplace. A related issue is the annual loss of $11 billion in revenue (mostly from Mexico and China) as a result of copyright infringement and the failure of foreign governments to insure intellectual property protection rights.
Boxer briefly discussed her support of the budget deal. Specifically, she argued that a balanced budget like the one adopted will be good for the "new economy." She expressed concern, however, over the funding levels for the National Institutes of Health and felt that that total should be at least doubled. Regarding the supplemental appropriations bill, the Senator voiced concern that recent add-ons to the bill (such as a prohibition on census sampling and an automatic budget extension) will jeopardize disaster relief funding. California is expected to receive around $2 billion of the $5.4 billion allocation.
In responding to questions from Advisory Board members, Senator Boxer also discussed the future of the Bay Delta agreement and the possibility that this year's $143 million federal payment may run into difficulty in the Senate. She also shared the concern of members representing California businesses over a recent proposal by Senators McCain and Levin to tax the stock options given to employees. This form of compensation is widely utilized in California's high technology industry. Responding to a question, Boxer expressed doubt about the likelihood of Superfund reauthorization this year. The Senator also responded to a question on her long-term priorities by emphasizing the need to improve America's education system to ensure a properly prepared workforce for the jobs of the future.

Volume 4, Bulletin 19 -- June 5, 1997