Posted on 04/08/2015 6:16:03 AM PDT by cotton1706
Republican Indiana Governor Mike Pence’s proposed balanced budget constitutional amendment has now moved out of a house committee.
The proposed amendment would prohibit the state from spending more than its anticipated tax collections. Lawmakers could suspend that requirement with two-thirds approval in both the House and Senate.
It’s not clear just what the amendment would actually accomplish since the states constitution already largely bans the state from incurring debt, except for in times of war.
Democrats say that it is only a political move.
(Excerpt) Read more at wibqam.com ...
That is surprising I thought all states have this law. Even Massachusetts has a balanced budget clause in its constitution.
Big mistake.
People think this will control spending. It does not.
All it does is give the representatives an excuse to raise taxes - “Well, we have this amendment and this budget so we HAVE to pay for it...”
This just gives them “plausible deniability” for raising taxes.
You don’t need any kind of balanced budget amendment if you actually just limit spending to begin with.
More “hate” from Indiana.... /sarc
‘Big Ball’ will tell Pence not to sign it or they will leave.
In a sense, EVERY budget is balanced. Balanced by borrowing!
The goal should be to reduced spending. A BBA just legalizes cooking the books.
Exactly right. People hear “Balanced budget” and think “cut spending” which may be true but it could just as easily be “raise taxes”.
Given what we know about politicians, “raise taxes” is probably more likely.
Well worded amendment would have to include forbidding the increasing of any existing taxes or the implementation of any new revenue streams SUCH AS taxes, fees, licensing, admissions, sales or transfers of any federal assets, borrowing in any way including bonds, etc.
Every piece of legislation is a political move.
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