IE Business Daily Business news for the Inland Empire.
I had a dynamic conversation with Republican California gubernatorial candidate Neel Kashkari on Friday and asked him questions that us voters deserve the answers to. If elected, he is determined to rebuild California, rebuild the middle class and put people back to work.
Neel, 40, gleaned political experience in Washington through his position as assistant secretary of the Treasury from 2006 – 2009. During his term he was part of TARP (Troubled Asset Relief Program) and was proud of the program he ran that stabilized the economy. “I hated the idea of intervening in the market, but when the entire economy was about to collapse, we had to step in to protect taxpayers’ money,” he said. I agree that was the only bailout that needed to be done. His program was successful and differed from Obama’s stimulus plan; it loaned money with interest, and at the end the program earned $13 billion for taxpayers.
Neel cites four components in his plan to spur economic recovery in California: reign in regulations and create smart regulations; cancel the $57 billion high speed train project and use those funds to build more dams and reservoirs for water storage; bring manufacturing back; and tap into the oil and gas sector to create jobs and revenue.
His strategy for bringing manufacturing back to the state is to provide incentives for businesses such as deferring their state taxes for ten years. By providing long term incentives Neel believes it will result in long term jobs. I also believe in this mentality and strategy.
Neel wants to give oil companies the confidence to invest in California by making smart and consistent policies. For those extreme environmentalists who oppose drilling for oil, Neel wants them to explain to the residents of this state why they are standing in the way of creating half-a-million good jobs.
When it comes to climate change Neel believes the science is compelling in support of it, but the difficulty lies in the solution. America being a green nation has little impact on climate change on the global level. If new technology is created that is cleaner and cheaper than what is available now, then the Chinese and Indian governments will adopt them and collectively make a global impact with other nations. In his opinion government should only fund basic and pure science in this situation, and leave it to the experts to figure out how to commercialize new technologies.
Neel wants to put the power of education back into the hands of teachers and parents at each respective school because they know what is best for their kids, not Sacramento. The one-size-fits-all approach is clearly failing – California students rank 47 out of 50 states. Neel believes parents and teachers should be given the ability to customize each school to fit the needs of their students. “Parents need choices.” Charter schools, Neel says, are an excellent model in customized instruction. I am on board with this concept.
With student loan debt skyrocketing, Neel finds it necessary to change the current funding formula that pays colleges for enrollment to one that is based on graduation rates and availability of courses. He would also require that 20 percent of courses be offered online. If a Stanford professor, for example, is a great instructor, why shouldn’t students from other colleges benefit from his class as well? His course would be beamed for all students to take advantage of. Under Neel’s governorship higher education would be one of high quality at a low cost.
Trade schools, Neel believes, should be readily available. Not every student is college-bound and they need an alternative – to learn a skill set. Vocational training is important and skills need to be brought back to the school system. There are hundreds of high-paying jobs that are unfilled because there is a shortage of skilled workers such as welders and heavy equipment mechanics. Neel asserts that apprenticeship programs would greatly benefit the economy.
If elected Neel Kashkari will strive to rebuild California, rebuild the middle class and create jobs. I’m not sure that defeating Jerry Brown in a state as liberal as California is possible, but if it is, I’m confident that Neel Kashkari is the only chance we have.
The upcoming election is an important one and I will provide you with insight on the other candidates on the ballot next week so that we can all vote as informed citizens.
Ed Hoffman is the host of the Main Event on AM590 which airs Saturday 9:30AM- 10:30AM and Sunday 4:00PM- 5:00PM.
