July 23, 2014 at 2:10 p.m.
Can they keep hands off windfall? (11/28/05)
Editorial
It's a classic good news/bad news situation.
The good news for the state of Indiana is that a recent amnesty for folks behind in their taxes was a huge success. Something like $150 to $200 million has poured into the state's coffers.
The bad news is that the Indiana General Assembly noticed.
No sooner had word of the success of the tax amnesty been reported than legislators began to take aim at those dollars.
The pressure comes from two directions, based upon the philosophical principles of the two major parties.
Some Republican lawmakers are already champing at the bit to use the amnesty windfall for tax cuts. Specifically, they'd like to steer the bucks toward property tax relief, obviously a popular move since 2006 is an election year.
Some Democratic lawmakers are equally excited about the prospect of spending the amnesty windfall on pet projects that speak to their own political base, primarily those related to education.
It's as if the tax amnesty has prompted legislative amnesia.
Indiana has been in a tight fiscal situation for about four years now.
And how did it happen? A combination of Republican givebacks to taxpayers and Democratic spending on worthy, if tough to afford, projects, that's how.
If the recent fiscal realities have taught us anything, it ought to be that rainy days do happen. There's a valid reason for state government, behaving prudently, to have a surplus so that it can weather economic storms.
And that's the logical thing to do with the amnesty windfall: Sit on it. Save it. Use it to build a cushion so that the next time things take a bad turn, the state can continue to function normally.
Sure, there are plenty of public projects which could use more money.
And, sure, there are plenty of folks who would enjoy getting some of their tax dollars back.
But the fact is, fiscal responsibility requires returning the state's surplus and rainy day fund back to reasonable levels. Fortunately, there are cooler heads in both parties and, we believe, in the governor's office who still remember what fiscal responsibility means. — J.R.[[In-content Ad]]
The good news for the state of Indiana is that a recent amnesty for folks behind in their taxes was a huge success. Something like $150 to $200 million has poured into the state's coffers.
The bad news is that the Indiana General Assembly noticed.
No sooner had word of the success of the tax amnesty been reported than legislators began to take aim at those dollars.
The pressure comes from two directions, based upon the philosophical principles of the two major parties.
Some Republican lawmakers are already champing at the bit to use the amnesty windfall for tax cuts. Specifically, they'd like to steer the bucks toward property tax relief, obviously a popular move since 2006 is an election year.
Some Democratic lawmakers are equally excited about the prospect of spending the amnesty windfall on pet projects that speak to their own political base, primarily those related to education.
It's as if the tax amnesty has prompted legislative amnesia.
Indiana has been in a tight fiscal situation for about four years now.
And how did it happen? A combination of Republican givebacks to taxpayers and Democratic spending on worthy, if tough to afford, projects, that's how.
If the recent fiscal realities have taught us anything, it ought to be that rainy days do happen. There's a valid reason for state government, behaving prudently, to have a surplus so that it can weather economic storms.
And that's the logical thing to do with the amnesty windfall: Sit on it. Save it. Use it to build a cushion so that the next time things take a bad turn, the state can continue to function normally.
Sure, there are plenty of public projects which could use more money.
And, sure, there are plenty of folks who would enjoy getting some of their tax dollars back.
But the fact is, fiscal responsibility requires returning the state's surplus and rainy day fund back to reasonable levels. Fortunately, there are cooler heads in both parties and, we believe, in the governor's office who still remember what fiscal responsibility means. — J.R.[[In-content Ad]]
Top Stories
9/11 NEVER FORGET Mobile Exhibit
Chartwells marketing
September 17, 2024 7:36 a.m.
Events
250 X 250 AD