Friday, November 14, 2008

Spending Limits a Must for Texas

Government spending is getting completely out of hand, on the national, state, and even local level. Did you know that local government debt is growing five times faster than our income?

The State Director for Americans for Prosperity - Texas, Peggy Venable, was invited to give testimony on Spending Limits for the House Appropriations Committee this past Wednesday. To read her written testimony click here and the video stream of the proceedings are here.

AFP recognizes that Texas is in dire need of Spending Limits.

They propose a spending limit that does the following:
  • Allows government to grow proportionate to the increase in population and inflation
  • Any growth beyond that would require voter approval
  • Surplus revenue should go to the budget stabilization fund (to be funded up to 15% of the state budget), and to a true emergency reserve cash fund (3% of the budget)
  • Once those funds meet their target, additional surplus should be given in property tax relief.
  • Local spending limits must be in place so taxpayers would have opportunity to realize that tax cut.
  • Mandates cannot be passed from state to local government (or federal government to the state) without subsequent funding, or the spending limit is adjusted proportionate to the unfunded mandate cost.

Speak up. Tell your legislators to file spending limit bills this legislative session.

It's important for Texas and our pocketbooks.

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